{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}E:\Dropbox\experiment\social security\Design_401k\Data appendix\Data\log/analysis_mturk.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}23 May 2024, 15:12:00
{txt}
{com}. use data/mturksession1, clear
{txt}
{com}. foreach i of numlist 2/6{c -(}
{txt}  2{com}. append using data/mturksession`i', force
{txt}  3{com}. {c )-}
{txt}{p 0 7 2}
(note: variable
playerMC_answer_3 was 
str5, now str11 to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerQ_RA_interest was 
byte, now int to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playergender was 
str6, now str9 to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerZIP was long in the using data, but will be
str5 now)
{p_end}
{p 0 7 2}
(note: variable
playercapital_gains was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playercapital_gains_tax_paid was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerQ_RA_tax was 
byte, now int to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerZIP was long in the using data, but will be
str5 now)
{p_end}
{p 0 7 2}
(note: variable
playeranswer_1 was 
byte, now long to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playeranswer_2 was 
byte, now long to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playeranswer_3 was 
byte, now long to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerZIP was long in the using data, but will be
str5 now)
{p_end}
{p 0 7 2}
(note: variable
playerbalance_CA was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playercontributionCA was 
byte, now long to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerCA_interest was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playercontributionCA_choice_sta was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playercontributionCA_choice_end was 
byte, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerZIP was long in the using data, but will be
str5 now)
{p_end}
{p 0 7 2}
(note: variable
playercontributionCA was 
long, now double to accommodate using data's values)
{p_end}
{p 0 7 2}
(note: variable
playerMC_answer_1 was 
str14, now str16 to accommodate using data's values)
{p_end}

{com}. append using data/model, force
{txt}{p 0 7 2}
(note: variable
participantcode was byte in the using data, but will be
str8 now)
{p_end}
{p 0 7 2}
(note: variable
participant_current_page_name was byte in the using data, but will be
str12 now)
{p_end}
{p 0 7 2}
(note: variable
participanttime_started was byte in the using data, but will be
str32 now)
{p_end}
{p 0 7 2}
(note: variable
participantmturk_worker_id was byte in the using data, but will be
str14 now)
{p_end}
{p 0 7 2}
(note: variable
participantmturk_assignment_id was byte in the using data, but will be
str30 now)
{p_end}
{p 0 7 2}
(note: variable
playeranswer_4 was byte in the using data, but will be
str31 now)
{p_end}
{p 0 7 2}
(note: variable
playerMC_answer_1 was byte in the using data, but will be
str16 now)
{p_end}
{p 0 7 2}
(note: variable
playerMC_answer_2 was byte in the using data, but will be
str16 now)
{p_end}
{p 0 7 2}
(note: variable
playerMC_answer_3 was byte in the using data, but will be
str11 now)
{p_end}
{p 0 7 2}
(note: variable
playergender was byte in the using data, but will be
str9 now)
{p_end}
{p 0 7 2}
(note: variable
playerrace was byte in the using data, but will be
str25 now)
{p_end}
{p 0 7 2}
(note: variable
playerincome was byte in the using data, but will be
str19 now)
{p_end}
{p 0 7 2}
(note: variable
playereducation was byte in the using data, but will be
str31 now)
{p_end}
{p 0 7 2}
(note: variable
playerZIP was byte in the using data, but will be
str5 now)
{p_end}
{p 0 7 2}
(note: variable
sessioncode was byte in the using data, but will be
str8 now)
{p_end}
{p 0 7 2}
(note: variable
sessionmturk_HITId was byte in the using data, but will be
str30 now)
{p_end}
{p 0 7 2}
(note: variable
sessionmturk_HITGroupId was byte in the using data, but will be
str30 now)
{p_end}
{p 0 7 2}
(note: variable
playerconsumption was 
long, now double to accommodate using data's values)
{p_end}

{com}. 
. 
. *assigning treatments
. *data 
. *=1, tda, =2 no-tda old tax
. * =3 no tda new tax 
. * =4, tda no education
. * =5 no tda with CA first
. *=6, no tda with CA consumption first
. gen sessiontype=session
{txt}
{com}. *add information to the model data
. replace sessiontype=11 if (participant_current_app_name=="tda_model")
{txt}(35 real changes made)

{com}. replace sessiontype=12 if (participant_current_app_name=="oldtax_model")
{txt}(35 real changes made)

{com}. replace sessiontype=13 if (participant_current_app_name=="newtax_model")
{txt}(35 real changes made)

{com}. 
. replace participantid_in_session=1 if sessiontype==11
{txt}(35 real changes made)

{com}. replace participantid_in_session=1 if sessiontype==12
{txt}(35 real changes made)

{com}. replace participantid_in_session=1 if sessiontype==13
{txt}(35 real changes made)

{com}. 
. 
. 
. tab sessiontype if subsessionround_number==110

{txt}sessiontype {c |}      Freq.     Percent        Cum.
{hline 12}{c +}{hline 35}
          1 {c |}{res}         32       17.78       17.78
{txt}          2 {c |}{res}         30       16.67       34.44
{txt}          3 {c |}{res}         28       15.56       50.00
{txt}          4 {c |}{res}         30       16.67       66.67
{txt}          5 {c |}{res}         30       16.67       83.33
{txt}          6 {c |}{res}         30       16.67      100.00
{txt}{hline 12}{c +}{hline 35}
      Total {c |}{res}        180      100.00
{txt}
{com}. 
. *generate treatment dummies
. gen t1=(sessiontype==1)
{txt}
{com}. gen t2=(sessiontype==2)
{txt}
{com}. gen t3=(sessiontype==3)
{txt}
{com}. gen t4=(sessiontype==4)
{txt}
{com}. gen t5=(sessiontype==5)
{txt}
{com}. gen t6=(sessiontype==6)
{txt}
{com}. *treatment effects 
. global treatmentlist="t2 t3 t4 t5 t6"
{txt}
{com}. *treatment effects for contribution rate only
. global treatmentlist_ca="t4 t5 t6"
{txt}
{com}. 
. 
. *assign theory predictions to treatments and models
. *tda
. gen treatment=1 
{txt}
{com}. *non-tda old tax
. replace treatment=2 if (sessiontype==2 | sessiontype==5 | sessiontype==6 | sessiontype==12)
{txt}(5,555 real changes made)

{com}. *non-tda new tax
. replace treatment=3 if (sessiontype==3 | sessiontype==13)
{txt}(1,673 real changes made)

{com}. *id number
. gen id=sessiontype*100+participantid_in_session
{txt}
{com}. *assign sequence to model predictions
. replace subsessionsequence=1 if sessiontype>=11
{txt}(105 real changes made)

{com}. gen id_sequence=id*10+subsessionsequence
{txt}
{com}. 
. 
. *generate survey response summary
. * number of corrected crt questions
. gen temp=((playeranswer_1==4)+(playeranswer_2==29)+(playeranswer_3==20)+(playeranswer_4=="lost money in the stock market")) if subsessionround_number==110
{txt}(10,745 missing values generated)

{com}. bysort id: egen crt=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. * number of correct financial literacy questions
. gen temp=((playerMC_answer_1=="More than $102")+(playerMC_answer_2=="Less than today")+(playerMC_answer_3=="False")) if subsessionround_number==110
{txt}(10,745 missing values generated)

{com}. bysort id: egen financialliteracy=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. *number of A choices
. *risk averse indicator
. gen temp=playerrisk_answer_01+playerrisk_answer_02+playerrisk_answer_03+playerrisk_answer_04+playerrisk_answer_05+playerrisk_answer_06/*
> */+playerrisk_answer_07+playerrisk_answer_08+playerrisk_answer_09+playerrisk_answer_10-10 
{txt}(10,745 missing values generated)

{com}. replace temp=10-temp 
{txt}(149 real changes made)

{com}. replace temp=. if subsessionround_number~=110
{txt}(0 real changes made)

{com}. bysort id: egen riskaverse=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. * not monotonic indicator
. gen temp=0 
{txt}
{com}. replace temp=1 if playerrisk_answer_09>playerrisk_answer_10
{txt}(23 real changes made)

{com}. foreach i of numlist 8(-1)1 {c -(}
{txt}  2{com}. replace temp=1 if playerrisk_answer_0`i'>playerrisk_answer_0`=`i'+1'
{txt}  3{com}. {c )-}
{txt}(24 real changes made)
(9 real changes made)
(15 real changes made)
(5 real changes made)
(4 real changes made)
(3 real changes made)
(4 real changes made)
(2 real changes made)

{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen riskaverse_ab=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. *demographic features
. gen temp=(playergender=="Female")
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen female=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. gen temp=1 /*white*/
{txt}
{com}. replace temp=2 if (playerrace=="African American or Black")
{txt}(6 real changes made)

{com}. replace temp=3 if (playerrace=="Hispanic or Latinx")
{txt}(3 real changes made)

{com}. replace temp=4 if (playerrace=="Asian")
{txt}(8 real changes made)

{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen race=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. 
. *for constructing demographic features
. gen temp=(playerrace=="White")
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen race_white=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. gen temp=(playerrace=="Asian")
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen race_asian=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. gen temp=(playerincome=="$0 to $25,000")
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen income_0=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. gen temp=(playerincome=="$25,001 to $50,000")
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen income_25=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. gen temp=((playereducation=="College degree")|(playereducation=="Graduate or professional degree"))
{txt}
{com}. replace temp=. if subsessionround_number~=110
{txt}(10,745 real changes made, 10,745 to missing)

{com}. bysort id: egen education_high=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. gen temp=playerage
{txt}(10,745 missing values generated)

{com}. replace temp=. if subsessionround_number~=110
{txt}(0 real changes made)

{com}. bysort id: egen age=mean(temp)
{txt}(105 missing values generated)

{com}. drop temp
{txt}
{com}. 
. 
. *remove questionaire data sequence
. drop if subsessionround_number==110
{txt}(180 observations deleted)

{com}. 
. 
. *define after tax income
. replace playerafter_tax_income=playertaxable_income-playertax_paid if sessiontype>=11
{txt}(105 real changes made)

{com}. *add capital gains taxes to tax payed
. replace playertax_paid=playertax_paid+playercapital_gains_tax_paid if sessiontype==3
{txt}(1,129 real changes made)

{com}. 
. 
. 
. 
. *change the unit
. *in dollar 
. *cumulative payoff each sequence assuming has not ended
. replace playertotal_payoff=playertotal_payoff/100
{txt}(10,568 real changes made)

{com}. *period payoff 
. replace playerpayoff=playerpayoff/100 
{txt}(8,196 real changes made)

{com}. 
. 
. *in thousands
. replace playerconsumption=playerconsumption/1000
{txt}(10,745 real changes made)

{com}. replace playerbalance_RA=playerbalance_RA/1000
{txt}(9,205 real changes made)

{com}. replace playerbalance_TDA=playerbalance_TDA/1000
{txt}(3,452 real changes made)

{com}. replace playerbalance_CA=playerbalance_CA/1000
{txt}(3,073 real changes made)

{com}. 
. replace playertaxable_income=playertaxable_income /1000
{txt}(10,745 real changes made)

{com}. replace  playertax_paid=playertax_paid/1000
{txt}(10,745 real changes made)

{com}. replace playerafter_tax_income=playerafter_tax_income/1000
{txt}(10,745 real changes made)

{com}. *different variables are used to record contribution amount in T4-T6
. *resolve this inconsistency in variable names
. replace playercontributionTDA=0 if playercontributionTDA==.
{txt}(5,335 real changes made)

{com}. replace playercontributionCA=0 if playercontributionCA==.
{txt}(5,335 real changes made)

{com}. replace playercontributionTDA=playercontributionTDA/1000
{txt}variable {bf}playercontributionTDA{sf} was {bf}{res}long{sf}{txt} now {bf}{res}double{sf}
{txt}(1,424 real changes made)

{com}. replace playercontributionCA=playercontributionCA/1000
{txt}(2,420 real changes made)

{com}. replace playercontribution=playercontribution/1000
{txt}variable {bf}playercontribution{sf} was {bf}{res}long{sf}{txt} now {bf}{res}double{sf}
{txt}(1,584 real changes made)

{com}. replace playercontribution=playercontributionTDA if sessiontype==4 
{txt}(1,820 real changes made)

{com}. replace playercontribution=playercontributionCA if sessiontype==5 | sessiontype==6
{txt}(3,590 real changes made)

{com}. replace playercontribution=0 if playercontribution==.
{txt}(70 real changes made)

{com}. 
. replace playerendowment=playerendowment/1000
{txt}(10,745 real changes made)

{com}. 
. 
. *net worth
. replace playerbalance_TDA=0 if playerbalance_TDA==.
{txt}(70 real changes made)

{com}. replace playerbalance_CA=0 if  playerbalance_CA==.
{txt}(5,335 real changes made)

{com}. 
. gen networth=playerbalance_RA+playerbalance_TDA+playerbalance_CA
{txt}
{com}. 
. 
. *average and mean TDA balance at period 15
. sum playerbalance_TDA if subsessionround_in_sequence==15 & sessiontype==1, d

                     {txt}player.balance_TDA
{hline 61}
      Percentiles      Smallest
 1%    {res} 103.3973       103.3973
{txt} 5%    {res} 160.8021       132.4172
{txt}10%    {res} 218.2405       136.2142       {txt}Obs         {res}         64
{txt}25%    {res}  448.198       160.8021       {txt}Sum of Wgt. {res}         64

{txt}50%    {res}   594.26                      {txt}Mean          {res} 599.3097
                        {txt}Largest       Std. Dev.     {res} 246.8813
{txt}75%    {res} 769.7895        1013.02
{txt}90%    {res} 942.7686       1027.015       {txt}Variance      {res} 60950.39
{txt}95%    {res}  1013.02       1065.428       {txt}Skewness      {res}-.0325571
{txt}99%    {res} 1065.428       1065.428       {txt}Kurtosis      {res} 2.427373
{txt}
{com}. sum playerbalance_TDA if subsessionround_in_sequence==15 & sessiontype==4, d

                     {txt}player.balance_TDA
{hline 61}
      Percentiles      Smallest
 1%    {res}        0              0
{txt} 5%    {res}   .09635              0
{txt}10%    {res}  66.1543              0       {txt}Obs         {res}         60
{txt}25%    {res} 306.4633          .1927       {txt}Sum of Wgt. {res}         60

{txt}50%    {res} 575.5258                      {txt}Mean          {res} 544.0825
                        {txt}Largest       Std. Dev.     {res}  306.871
{txt}75%    {res} 825.1962       961.4865
{txt}90%    {res} 925.5364       996.5842       {txt}Variance      {res} 94169.79
{txt}95%    {res} 979.0353       1004.988       {txt}Skewness      {res}-.2705966
{txt}99%    {res} 1019.919       1019.919       {txt}Kurtosis      {res} 1.921254
{txt}
{com}. sum playerbalance_CA if subsessionround_in_sequence==15 & sessiontype==5, d

                      {txt}player.balance_CA
{hline 61}
      Percentiles      Smallest
 1%    {res}        0              0
{txt} 5%    {res} 155.8955        75.7016
{txt}10%    {res} 215.9639       147.4402       {txt}Obs         {res}         60
{txt}25%    {res} 323.1615       164.3507       {txt}Sum of Wgt. {res}         60

{txt}50%    {res} 510.2614                      {txt}Mean          {res} 468.2735
                        {txt}Largest       Std. Dev.     {res} 187.4188
{txt}75%    {res} 611.3754        728.249
{txt}90%    {res} 706.1943       750.9985       {txt}Variance      {res}  35125.8
{txt}95%    {res} 739.6237       754.0788       {txt}Skewness      {res}-.3947572
{txt}99%    {res}  792.696        792.696       {txt}Kurtosis      {res} 2.356141
{txt}
{com}. sum playerbalance_CA if subsessionround_in_sequence==15 & sessiontype==6, d

                      {txt}player.balance_CA
{hline 61}
      Percentiles      Smallest
 1%    {res}        0              0
{txt} 5%    {res}        0              0
{txt}10%    {res}        0              0       {txt}Obs         {res}         60
{txt}25%    {res}  6.08015              0       {txt}Sum of Wgt. {res}         60

{txt}50%    {res}  55.5094                      {txt}Mean          {res} 120.4543
                        {txt}Largest       Std. Dev.     {res} 138.4991
{txt}75%    {res} 211.1933       354.4432
{txt}90%    {res} 322.3469        395.097       {txt}Variance      {res} 19181.99
{txt}95%    {res} 374.7701       458.8637       {txt}Skewness      {res} 1.254675
{txt}99%    {res}  604.719        604.719       {txt}Kurtosis      {res}  4.21144
{txt}
{com}. 
. *find out CA account usage
. sum playerbalance_CA if subsessionround_in_sequence==15 & sessiontype==5, d

                      {txt}player.balance_CA
{hline 61}
      Percentiles      Smallest
 1%    {res}        0              0
{txt} 5%    {res} 155.8955        75.7016
{txt}10%    {res} 215.9639       147.4402       {txt}Obs         {res}         60
{txt}25%    {res} 323.1615       164.3507       {txt}Sum of Wgt. {res}         60

{txt}50%    {res} 510.2614                      {txt}Mean          {res} 468.2735
                        {txt}Largest       Std. Dev.     {res} 187.4188
{txt}75%    {res} 611.3754        728.249
{txt}90%    {res} 706.1943       750.9985       {txt}Variance      {res}  35125.8
{txt}95%    {res} 739.6237       754.0788       {txt}Skewness      {res}-.3947572
{txt}99%    {res}  792.696        792.696       {txt}Kurtosis      {res} 2.356141
{txt}
{com}. sum playerbalance_CA if subsessionround_in_sequence==15 & sessiontype==6, d

                      {txt}player.balance_CA
{hline 61}
      Percentiles      Smallest
 1%    {res}        0              0
{txt} 5%    {res}        0              0
{txt}10%    {res}        0              0       {txt}Obs         {res}         60
{txt}25%    {res}  6.08015              0       {txt}Sum of Wgt. {res}         60

{txt}50%    {res}  55.5094                      {txt}Mean          {res} 120.4543
                        {txt}Largest       Std. Dev.     {res} 138.4991
{txt}75%    {res} 211.1933       354.4432
{txt}90%    {res} 322.3469        395.097       {txt}Variance      {res} 19181.99
{txt}95%    {res} 374.7701       458.8637       {txt}Skewness      {res} 1.254675
{txt}99%    {res}  604.719        604.719       {txt}Kurtosis      {res}  4.21144
{txt}
{com}. list id if playerbalance_CA==0 & subsessionround_in_sequence==15 & sessiontype==5
{txt}
       {c TLC}{hline 5}{c TRC}
       {c |} {res} id {txt}{c |}
       {c LT}{hline 5}{c RT}
 8307. {c |} {res}521 {txt}{c |}
       {c BLC}{hline 5}{c BRC}

{com}. list id if playerbalance_CA==0 & subsessionround_in_sequence==15 & sessiontype==6
{txt}
       {c TLC}{hline 5}{c TRC}
       {c |} {res} id {txt}{c |}
       {c LT}{hline 5}{c RT}
 8910. {c |} {res}601 {txt}{c |}
 8943. {c |} {res}602 {txt}{c |}
 8953. {c |} {res}602 {txt}{c |}
 9012. {c |} {res}603 {txt}{c |}
 9028. {c |} {res}603 {txt}{c |}
       {c LT}{hline 5}{c RT}
 9066. {c |} {res}604 {txt}{c |}
 9071. {c |} {res}604 {txt}{c |}
 9835. {c |} {res}617 {txt}{c |}
 9991. {c |} {res}619 {txt}{c |}
10570. {c |} {res}629 {txt}{c |}
       {c BLC}{hline 5}{c BRC}

{com}. 
. 
. 
. 
. tsset id_sequence subsessionround_in_sequence
{res}{txt}{col 8}panel variable:  {res}id_sequence (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}subsessionr~e, 1 to 35
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. *calculate total tax savings from TDA (both contribution and accumulated interests)
. gen playertaxable_income_before=playertaxable_income+playercontribution if (sessiontype==1 | sessiontype==4 | sessiontype==11) & subsessionround_in_sequence==1
{txt}(10,620 missing values generated)

{com}. replace playertaxable_income_before=playertaxable_income+playercontribution+L.playerbalance_TDA*0.1 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & subsessionround_in_sequence>1
{txt}(3,510 real changes made)

{com}. gen playertax_paid_before=. 
{txt}(10,745 missing values generated)

{com}. replace playertax_paid_before=0 if (sessiontype==1 | sessiontype==4 | sessiontype==11)
{txt}(3,635 real changes made)

{com}. replace playertax_paid_before=0.1*(playertaxable_income_before-21) if (sessiontype==1 | sessiontype==4 | sessiontype==11) & playertaxable_income_before>21
{txt}(3,635 real changes made)

{com}. replace playertax_paid_before=0.15*(playertaxable_income_before-39)+1.8 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & playertaxable_income_before>39
{txt}(3,635 real changes made)

{com}. replace playertax_paid_before=0.25*(playertaxable_income_before-96)+10.35 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & playertaxable_income_before>96
{txt}(1,891 real changes made)

{com}. gen tax_exp=.
{txt}(10,745 missing values generated)

{com}. replace tax_exp=playertax_paid_before-playertax_paid
{txt}(3,635 real changes made)

{com}. 
. *calculate tax savings from TDA contribution alone
. gen temp1=playertaxable_income+playercontribution if (sessiontype==1 | sessiontype==4 | sessiontype==11) 
{txt}(7,110 missing values generated)

{com}. gen temp2=. 
{txt}(10,745 missing values generated)

{com}. replace temp2=0 if (sessiontype==1 | sessiontype==4 | sessiontype==11)
{txt}(3,635 real changes made)

{com}. replace temp2=0.1*(temp1-21) if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>21
{txt}(3,635 real changes made)

{com}. replace temp2=0.15*(temp1-39)+1.8 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>39
{txt}(3,635 real changes made)

{com}. replace temp2=0.25*(temp1-96)+10.35 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>96
{txt}(933 real changes made)

{com}. gen tdactaxsave=temp2-playertax_paid
{txt}(7,110 missing values generated)

{com}. replace tdactaxsave=0 if tdactaxsave==.
{txt}(7,110 real changes made)

{com}. *total savings
. gen totalsaving=playerafter_tax_income-playerconsumption
{txt}
{com}. replace totalsaving=playercontribution-tdactaxsave+totalsaving if (sessiontype==1 | sessiontype==4 | sessiontype==11) 
{txt}(3,581 real changes made)

{com}. drop temp1 temp2
{txt}
{com}. 
. replace totalsaving=. if subsessionround_in_sequence>15
{txt}(5,300 real changes made, 5,300 to missing)

{com}. *revised after tax income adding TDA contributions and deducting tax savings on TDA contribution 
. gen revised_after_tax_income=playerafter_tax_income
{txt}
{com}. replace revised_after_tax_income=playerafter_tax_income+playercontribution-tdactaxsave if (sessiontype==1 | sessiontype==4 | sessiontype==11) 
{txt}(3,338 real changes made)

{com}. *contribution rate
. gen contribution2endowment=playercontribution/playerendowment
{txt}
{com}. replace contribution2endowment=. if subsessionround_in_sequence>15
{txt}(5,300 real changes made, 5,300 to missing)

{com}. gen contribution2aftertaxinc=playercontribution/revised_after_tax_income
{txt}
{com}. replace contribution2aftertaxinc=. if subsessionround_in_sequence>15
{txt}(5,300 real changes made, 5,300 to missing)

{com}. 
. replace contribution2endowment=. if (sessiontype==2) |   (sessiontype==3) | (sessiontype==12) | (sessiontype==13)   
{txt}(1,770 real changes made, 1,770 to missing)

{com}. replace contribution2aftertaxinc=. if (sessiontype==2) |   (sessiontype==3) | (sessiontype==12) | (sessiontype==13)   
{txt}(1,770 real changes made, 1,770 to missing)

{com}. *total saving rate
. gen totalsaving2endowment=totalsaving/playerendowment
{txt}(5,300 missing values generated)

{com}. gen totalsaving2aftertaxinc=totalsaving/revised_after_tax_income
{txt}(5,300 missing values generated)

{com}. 
. sum contribution2endowment if sessiontype==5

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
contributi~t {c |}{res}        900    .1721202    .1336896          0    2.07993
{txt}
{com}. sum contribution2endowment if sessiontype==6

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
contributi~t {c |}{res}        900    .0436413    .0760871          0   1.481061
{txt}
{com}. 
. 
. 
. *generate revised TDA balances b* 
. *assuming subjects pay taxes on TDA contribution and accumulated interests. 
. gen revised_playerbalance_TDA=0
{txt}
{com}. replace revised_playerbalance_TDA=playerbalance_TDA-tax_exp if subsessionround_in_sequence==1 &  (sessiontype==1 | sessiontype==4 | sessiontype==11)
{txt}(118 real changes made)

{com}. foreach i of numlist 2/35{c -(}
{txt}  2{com}. gen temp1=playertaxable_income+playercontribution+L.revised_playerbalance_TDA*0.1 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & subsessionround_in_sequence==`i'
{txt}  3{com}. gen temp2=. 
{txt}  4{com}. replace temp2=0 if (sessiontype==1 | sessiontype==4 | sessiontype==11)
{txt}  5{com}. replace temp2=0.1*(temp1-21) if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>21
{txt}  6{com}. replace temp2=0.15*(temp1-39)+1.8 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>39
{txt}  7{com}. replace temp2=0.25*(temp1-96)+10.35 if (sessiontype==1 | sessiontype==4 | sessiontype==11) & temp1>96
{txt}  8{com}. replace revised_playerbalance_TDA=L.revised_playerbalance_TD*1.1+playercontribution-(temp2-playertax_paid) if subsessionround_in_sequence==`i' &  (sessiontype==1 | sessiontype==4 | sessiontype==11) & playertaxable_income>0
{txt}  9{com}. drop temp1 temp2
{txt} 10{com}. {c )-}
{txt}(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(0 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(0 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(0 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(69 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(122 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(125 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(123 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(121 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(68 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(44 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(35 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(32 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(29 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(125 real changes made)
(27 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(124 real changes made)
(24 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(124 real changes made)
(22 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(122 real changes made)
(20 real changes made)
(125 real changes made)
(10,620 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,510 to missing)
(119 real changes made)
(19 real changes made)
(125 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,584 to missing)
(41 real changes made)
(5 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,584 to missing)
(37 real changes made)
(5 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,584 to missing)
(33 real changes made)
(5 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,584 to missing)
(27 real changes made)
(5 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,635 real changes made, 3,584 to missing)
(22 real changes made)
(5 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,634 real changes made, 3,584 to missing)
(19 real changes made)
(6 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,633 real changes made, 3,584 to missing)
(17 real changes made)
(6 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,632 real changes made, 3,584 to missing)
(16 real changes made)
(6 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,630 real changes made, 3,584 to missing)
(12 real changes made)
(6 real changes made)
(51 real changes made)
(10,694 missing values generated)
(10,745 missing values generated)
(3,635 real changes made)
(3,626 real changes made, 3,584 to missing)
(10 real changes made)
(5 real changes made)
(51 real changes made)

{com}. 
. 
. *ending round for each session
. bysort id_sequence: egen endinground=total(subsessionpaid_round) if  subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35 
{txt}
{com}. 
. 
. 
. 
. *theretical survival rate for each model period (the probabiltiy each period is the last period)
. gen survprob=1
{txt}
{com}. foreach i of numlist 16/35{c -(}
{txt}  2{com}. replace survprob=(0.9)^(`i'-16) if subsessionround_in_sequence==`i'
{txt}  3{com}. {c )-}
{txt}(0 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(363 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)
(167 real changes made)

{com}. 
. 
. 
. *generate theory predicted consumption levels
. sort sessiontype session participantid_in_session subsessionsequence subsessionround_in_sequence
{txt}
{com}. gen temp=playerconsumption if sessiontype>=10
{txt}(10,640 missing values generated)

{com}. bysort treatment subsessionround_in_sequence: egen consumption_theory=mean(temp)
{txt}
{com}. drop temp
{txt}
{com}. *deviation measures
. gen consumption_dev=playerconsumption-consumption_theory
{txt}
{com}. gen con_dev2=(playerconsumption-consumption_theory)^2
{txt}
{com}. gen con_per_dev2=((playerconsumption-consumption_theory)/consumption_theory)^2*100
{txt}
{com}. 
. 
. *5 period average values: 1 periods 1-5, 6 p 6-10, 11 p11-15, 16 p16-20, 21 p21-25, 26 p26-30, 31 p31-35
. global varlist periodlist="1 6 11 16 21"
{txt}
{com}. 
. foreach i of numlist 1(5)31{c -(}
{txt}  2{com}. bysort id_sequence : egen mse`i'=mean(con_dev2) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  3{com}. bysort id_sequence : egen mspe`i'=mean(con_per_dev2) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  4{com}. bysort id_sequence : egen con`i'=mean(playerconsumption) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  5{com}. bysort id_sequence : egen networth`i'=mean(networth) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  6{com}. {c )-}
{txt}(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)
(9910 missing values generated)

{com}. 
. *first 25 period average values
. bysort id_sequence : egen mse25=mean(con_dev2) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=25
{txt}(1670 missing values generated)

{com}. bysort id_sequence : egen mspe25=mean(con_per_dev2) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=25
{txt}(1670 missing values generated)

{com}. bysort id_sequence : egen con25=mean(playerconsumption) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=25
{txt}(1670 missing values generated)

{com}. bysort id_sequence : egen networth25=mean(networth) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=25
{txt}(1670 missing values generated)

{com}. 
. *five period average
. foreach i of numlist 1(5)11{c -(}
{txt}  2{com}. bysort id_sequence : egen totalsaving2endowment`i'=mean(totalsaving2endowment) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  3{com}. bysort id_sequence : egen totalsaving2aftertaxinc`i'=mean(totalsaving2aftertaxinc) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  4{com}. bysort id_sequence : egen contribution2endowment`i'=mean(contribution2endowment) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  5{com}. bysort id_sequence : egen contribution2aftertaxinc`i'=mean(contribution2aftertaxinc) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  6{com}. {c )-}
{txt}(8930 missing values generated)
(8930 missing values generated)
(9520 missing values generated)
(9520 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(9520 missing values generated)
(9520 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(9520 missing values generated)
(9520 missing values generated)

{com}. *average of first 15 periods
. 
. bysort id_sequence : egen totalsaving2endowment15=mean(totalsaving2endowment) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=15
{txt}(5300 missing values generated)

{com}. bysort id_sequence : egen totalsaving2aftertaxinc15=mean(totalsaving2aftertaxinc) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=15
{txt}(5300 missing values generated)

{com}. bysort id_sequence : egen contribution2endowment15=mean(contribution2endowment) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=15
{txt}(7070 missing values generated)

{com}. bysort id_sequence : egen contribution2aftertaxinc15=mean(contribution2aftertaxinc) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=15
{txt}(7070 missing values generated)

{com}. 
. 
. *maximum number of rounds with decision data
. bysort id_sequence: egen maxround=max(subsessionround_in_sequence) 
{txt}
{com}. 
. * 35 period average for the subsample with valid data for all 35 periods
. bysort id_sequence : egen mse35=mean(con_dev2) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35 & maxround==35
{txt}(4900 missing values generated)

{com}. bysort id_sequence : egen mspe35=mean(con_per_dev2) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35 & maxround==35
{txt}(4900 missing values generated)

{com}. bysort id_sequence : egen con35=mean(playerconsumption) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35 & maxround==35
{txt}(4900 missing values generated)

{com}. bysort id_sequence : egen networth35=mean(networth) if subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35 & maxround==35
{txt}(4900 missing values generated)

{com}. 
. *define per period payoff for model 
. tsset id_sequence subsessionround_in_sequence
{res}{txt}{col 8}panel variable:  {res}id_sequence (unbalanced)
{txt}{col 9}time variable:  {res}{col 25}subsessionr~e, 1 to 35
{txt}{col 17}delta:  {res}1 unit
{txt}
{com}. foreach j of numlist 11/13{c -(}
{txt}  2{com}.         replace playerpayoff= playertotal_payoff if  subsessionround_in_sequence==1 & sessiontype==`j'
{txt}  3{com}.         foreach i of numlist 2/35{c -(}
{txt}  4{com}.         replace playerpayoff= playertotal_payoff-L.playertotal_payoff if  subsessionround_in_sequence==`i'       &  sessiontype==`j'
{txt}  5{com}.         {c )-}
{txt}  6{com}. {c )-}
{txt}(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)
(1 real change made)

{com}. 
. *total payoff for 5 periods weighted by survival proba
. foreach i of numlist 1(5)31{c -(}
{txt}  2{com}. bysort id_sequence : egen payoff`i'=total(playerpayoff*survprob) if subsessionround_in_sequence>=`i' & subsessionround_in_sequence<`=`i'+5'
{txt}  3{com}. {c )-}
{txt}(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(8930 missing values generated)
(9910 missing values generated)
(9910 missing values generated)

{com}. 
. *average CA interest in treatment 5
. sum playerCA_interest if sessiontype==5 & subsessionround_in_sequence>=11 & subsessionround_in_sequence<=15

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
playerCA_i~t {c |}{res}        300    31983.84    14949.25          0    70931.3
{txt}
{com}. 
. *payoff from the first 25 periods (only)
. 
. bysort id_sequence: egen payoff24=total(playerpayoff*survprob) if  subsessionround_in_sequence>=1 & subsessionround_in_sequence<=25
{txt}(1670 missing values generated)

{com}. *lifetime utility, add the average payoff for the last 10 periods for subjects who end at period 25
. bysort id_sequence: egen payoff25=total(playerpayoff*survprob) if  subsessionround_in_sequence>=1 & subsessionround_in_sequence<=35
{txt}
{com}. foreach i of numlist 1/6{c -(}
{txt}  2{com}.         sum payoff26 if sessiontype==`i'
{txt}  3{com}.         replace payoff25=payoff25+r(mean) if sessiontype==`i' & maxround==25
{txt}  4{com}.         sum payoff31 if sessiontype==`i'
{txt}  5{com}.         replace payoff25=payoff25+r(mean) if sessiontype==`i' & maxround==25
{txt}  6{com}.         
. {c )-}

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}         90    .4086917    .5349092          0   1.400846
{txt}(1,150 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}         90     .187722    .3022039          0   .8406153
{txt}(1,150 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}        170      .31684    .4880758          0   1.390806
{txt}(650 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}        170    .1564283    .2824537          0    .827125
{txt}(650 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}        105    .2688776      .45734          0   1.314103
{txt}(875 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}        105    .1041015    .2244236          0   .7980105
{txt}(875 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}        160    .2807631    .4475733          0   1.336828
{txt}(700 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}        160    .1037217     .213921          0   .8183849
{txt}(700 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}        170       .2533    .4244832          0   1.423589
{txt}(650 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}        170    .0946777    .2252862          0   .8406153
{txt}(650 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}        125    .0124381    .0367629          0   .1742005
{txt}(875 real changes made)

    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}        125    .0043538    .0202103          0   .1028637
{txt}(875 real changes made)

{com}. 
. 
. *=============================
. *control variables
. *=============================
. 
. 
. gen subsessionsequence2=(subsessionsequence==2)
{txt}
{com}. global control="crt financialliteracy riskaverse female subsessionsequence2"
{txt}
{com}. 
. 
. *  summary statistics about demographics
. 
. local varlist2="female age race_white race_asian income_0 income_25 education_high crt financialliteracy riskaverse participantpayoff"
{txt}
{com}. 
. estpost summ `varlist2' if subsessionround_in_sequence==1 & sessiontype<10 & subsessionsequence==1, d

{txt}{space 0}{space 0}{ralign 12:}{space 1}{c |}{space 1}{ralign 9:e(count)}{space 1}{space 1}{ralign 9:e(sum_w)}{space 1}{space 1}{ralign 9:e(mean)}{space 1}{space 1}{ralign 9:e(Var)}{space 1}{space 1}{ralign 9:e(sd)}{space 1}{space 1}{ralign 9:e(skewn~)}{space 1}{space 1}{ralign 9:e(kurto~)}{space 1}{space 1}{ralign 9:e(sum)}{space 1}{space 1}{ralign 9:e(min)}{space 1}{space 1}{ralign 9:e(max)}{space 1}{space 1}{ralign 9:e(p1)}{space 1}
{space 0}{hline 13}{c   +}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}
{space 0}{space 0}{ralign 12:female}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .4722222}}}{space 1}{space 1}{ralign 9:{res:{sf: .2506207}}}{space 1}{space 1}{ralign 9:{res:{sf: .5006203}}}{space 1}{space 1}{ralign 9:{res:{sf:  .111283}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.012384}}}{space 1}{space 1}{ralign 9:{res:{sf:       85}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:age}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: 36.38889}}}{space 1}{space 1}{ralign 9:{res:{sf: 140.1831}}}{space 1}{space 1}{ralign 9:{res:{sf:  11.8399}}}{space 1}{space 1}{ralign 9:{res:{sf: .8293279}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.668713}}}{space 1}{space 1}{ralign 9:{res:{sf:     6550}}}{space 1}{space 1}{ralign 9:{res:{sf:       21}}}{space 1}{space 1}{ralign 9:{res:{sf:       67}}}{space 1}{space 1}{ralign 9:{res:{sf:       22}}}{space 1}
{space 0}{space 0}{ralign 12:race_white}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .8666667}}}{space 1}{space 1}{ralign 9:{res:{sf: .1162011}}}{space 1}{space 1}{ralign 9:{res:{sf: .3408828}}}{space 1}{space 1}{ralign 9:{res:{sf:-2.157277}}}{space 1}{space 1}{ralign 9:{res:{sf: 5.653846}}}{space 1}{space 1}{ralign 9:{res:{sf:      156}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:race_asian}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .0444444}}}{space 1}{space 1}{ralign 9:{res:{sf: .0427064}}}{space 1}{space 1}{ralign 9:{res:{sf: .2066553}}}{space 1}{space 1}{ralign 9:{res:{sf: 4.421144}}}{space 1}{space 1}{ralign 9:{res:{sf: 20.54651}}}{space 1}{space 1}{ralign 9:{res:{sf:        8}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:income_0}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .1666667}}}{space 1}{space 1}{ralign 9:{res:{sf: .1396648}}}{space 1}{space 1}{ralign 9:{res:{sf: .3737175}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.788854}}}{space 1}{space 1}{ralign 9:{res:{sf:      4.2}}}{space 1}{space 1}{ralign 9:{res:{sf:       30}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:income_25}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .2222222}}}{space 1}{space 1}{ralign 9:{res:{sf: .1738051}}}{space 1}{space 1}{ralign 9:{res:{sf: .4168994}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.336306}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.785714}}}{space 1}{space 1}{ralign 9:{res:{sf:       40}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:education_~h}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: .8277778}}}{space 1}{space 1}{ralign 9:{res:{sf: .1433582}}}{space 1}{space 1}{ralign 9:{res:{sf: .3786267}}}{space 1}{space 1}{ralign 9:{res:{sf:-1.736233}}}{space 1}{space 1}{ralign 9:{res:{sf: 4.014505}}}{space 1}{space 1}{ralign 9:{res:{sf:      149}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:crt}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.244444}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.850528}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.360341}}}{space 1}{space 1}{ralign 9:{res:{sf:-.3149908}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.852115}}}{space 1}{space 1}{ralign 9:{res:{sf:      404}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        4}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:financiall~y}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.122222}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.258721}}}{space 1}{space 1}{ralign 9:{res:{sf: 1.121927}}}{space 1}{space 1}{ralign 9:{res:{sf:  -.83681}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.166069}}}{space 1}{space 1}{ralign 9:{res:{sf:      382}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:riskaverse}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf: 5.694444}}}{space 1}{space 1}{ralign 9:{res:{sf: 8.358628}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.891129}}}{space 1}{space 1}{ralign 9:{res:{sf:-.3682149}}}{space 1}{space 1}{ralign 9:{res:{sf: 2.579469}}}{space 1}{space 1}{ralign 9:{res:{sf:     1025}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:       10}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}
{space 0}{space 0}{ralign 12:participan~f}{space 1}{c |}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:      180}}}{space 1}{space 1}{ralign 9:{res:{sf:  1288.03}}}{space 1}{space 1}{ralign 9:{res:{sf: 159311.4}}}{space 1}{space 1}{ralign 9:{res:{sf: 399.1383}}}{space 1}{space 1}{ralign 9:{res:{sf:-.0139325}}}{space 1}{space 1}{ralign 9:{res:{sf:  4.18654}}}{space 1}{space 1}{ralign 9:{res:{sf: 231845.4}}}{space 1}{space 1}{ralign 9:{res:{sf:    234.6}}}{space 1}{space 1}{ralign 9:{res:{sf:   2730.9}}}{space 1}{space 1}{ralign 9:{res:{sf:      259}}}{space 1}

{space 0}{space 0}{ralign 12:}{space 1}{c |}{space 1}{ralign 9:e(p5)}{space 1}{space 1}{ralign 9:e(p10)}{space 1}{space 1}{ralign 9:e(p25)}{space 1}{space 1}{ralign 9:e(p50)}{space 1}{space 1}{ralign 9:e(p75)}{space 1}{space 1}{ralign 9:e(p90)}{space 1}{space 1}{ralign 9:e(p95)}{space 1}{space 1}{ralign 9:e(p99)}{space 1}
{space 0}{hline 13}{c   +}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}{hline 11}
{space 0}{space 0}{ralign 12:female}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:age}{space 1}{c |}{space 1}{ralign 9:{res:{sf:       24}}}{space 1}{space 1}{ralign 9:{res:{sf:       25}}}{space 1}{space 1}{ralign 9:{res:{sf:       25}}}{space 1}{space 1}{ralign 9:{res:{sf:       34}}}{space 1}{space 1}{ralign 9:{res:{sf:       45}}}{space 1}{space 1}{ralign 9:{res:{sf:       56}}}{space 1}{space 1}{ralign 9:{res:{sf:       60}}}{space 1}{space 1}{ralign 9:{res:{sf:       67}}}{space 1}
{space 0}{space 0}{ralign 12:race_white}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:race_asian}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:income_0}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:income_25}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:education_~h}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}
{space 0}{space 0}{ralign 12:crt}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        4}}}{space 1}{space 1}{ralign 9:{res:{sf:        4}}}{space 1}{space 1}{ralign 9:{res:{sf:        4}}}{space 1}
{space 0}{space 0}{ralign 12:financiall~y}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}{space 1}{ralign 9:{res:{sf:        3}}}{space 1}
{space 0}{space 0}{ralign 12:riskaverse}{space 1}{c |}{space 1}{ralign 9:{res:{sf:        0}}}{space 1}{space 1}{ralign 9:{res:{sf:        1}}}{space 1}{space 1}{ralign 9:{res:{sf:        4}}}{space 1}{space 1}{ralign 9:{res:{sf:        6}}}{space 1}{space 1}{ralign 9:{res:{sf:        7}}}{space 1}{space 1}{ralign 9:{res:{sf:       10}}}{space 1}{space 1}{ralign 9:{res:{sf:       10}}}{space 1}{space 1}{ralign 9:{res:{sf:       10}}}{space 1}
{space 0}{space 0}{ralign 12:participan~f}{space 1}{c |}{space 1}{ralign 9:{res:{sf:   503.45}}}{space 1}{space 1}{ralign 9:{res:{sf:    698.9}}}{space 1}{space 1}{ralign 9:{res:{sf:  1100.85}}}{space 1}{space 1}{ralign 9:{res:{sf:  1317.55}}}{space 1}{space 1}{ralign 9:{res:{sf:   1494.7}}}{space 1}{space 1}{ralign 9:{res:{sf:  1688.15}}}{space 1}{space 1}{ralign 9:{res:{sf:  1933.35}}}{space 1}{space 1}{ralign 9:{res:{sf:   2282.9}}}{space 1}

{com}. estout using "output/summary_mturk.xls",  cells("count mean sd p10 p25 p50 p75 p90") title("all alternative statistics") replace
{res}{txt}(output written to {browse  `"output/summary_mturk.xls"'})

{com}. 
. *=============================
. *regression analysis
. *the number of regressions are more than that reported in the paper.
. *regressions used to construct tables reported in the paper and appendix are noted
. *each regression result includes 
. *the estimated coefficient const and t2-t6
. *the treatment difference diffxx and sdxx
. *the difference in theory predictions mean21 mean31 mean32
. *=============================
. *mean squared percent errors 
. 
. est clear
{txt}
{com}. foreach i of numlist 1 (5)21 25 26 31 35{c -(}
{txt}  2{com}. reg mspe`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. est store mspe`i'
{txt} 11{com}. {c )-}

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     3.07
                                                {txt}Prob > F          = {res}    0.0013
                                                {txt}R-squared         = {res}    0.1027
                                                {txt}Root MSE          =    {res} 2.0894

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mspe1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 1.722445{col 33}{space 2} .5168383{col 44}{space 1}    3.33{col 53}{space 3}0.001{col 61}{space 4} .7025654{col 74}{space 3} 2.742325
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} .6365584{col 33}{space 2} .3924203{col 44}{space 1}    1.62{col 53}{space 3}0.107{col 61}{space 4}-.1378067{col 74}{space 3} 1.410924
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.0813998{col 33}{space 2}  .283335{col 44}{space 1}   -0.29{col 53}{space 3}0.774{col 61}{space 4}-.6405062{col 74}{space 3} .4777066
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.2816741{col 33}{space 2}  .291602{col 44}{space 1}   -0.97{col 53}{space 3}0.335{col 61}{space 4}-.8570938{col 74}{space 3} .2937456
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} .5795932{col 33}{space 2} .3286098{col 44}{space 1}    1.76{col 53}{space 3}0.079{col 61}{space 4}-.0688543{col 74}{space 3} 1.228041
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0203425{col 33}{space 2} .1005808{col 44}{space 1}    0.20{col 53}{space 3}0.840{col 61}{space 4}-.1781341{col 74}{space 3}  .218819
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0389929{col 33}{space 2} .1090762{col 44}{space 1}   -0.36{col 53}{space 3}0.721{col 61}{space 4}-.2542336{col 74}{space 3} .1762477
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.0288522{col 33}{space 2} .0473952{col 44}{space 1}   -0.61{col 53}{space 3}0.543{col 61}{space 4}-.1223774{col 74}{space 3} .0646731
{txt}{space 13}female {c |}{col 21}{res}{space 2} .1858388{col 33}{space 2} .2621614{col 44}{space 1}    0.71{col 53}{space 3}0.479{col 61}{space 4}-.3314858{col 74}{space 3} .7031634
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.4362477{col 33}{space 2} .2034937{col 44}{space 1}   -2.14{col 53}{space 3}0.033{col 61}{space 4}-.8378029{col 74}{space 3}-.0346925
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 2.291253{col 33}{space 2} .3332503{col 44}{space 1}    6.88{col 53}{space 3}0.000{col 61}{space 4} 1.633648{col 74}{space 3} 2.948858
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.085887{col 26}{space 2} .5727841{col 37}{space 1}   -1.90{col 46}{space 3}0.060{col 54}{space 4}-2.216165{col 67}{space 3} .0443912
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-1.0858867

{txt}added scalar:
               e(sd32) =  {res}.57278409

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.803845{col 26}{space 2}  .486314{col 37}{space 1}   -3.71{col 46}{space 3}0.000{col 54}{space 4}-2.763491{col 67}{space 3}-.8441988
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-1.8038449

{txt}added scalar:
               e(sd42) =  {res}.48631404

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.004119{col 26}{space 2} .4703664{col 37}{space 1}   -4.26{col 46}{space 3}0.000{col 54}{space 4}-2.932296{col 67}{space 3}-1.075943
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-2.0041193

{txt}added scalar:
               e(sd52) =  {res}.47036641

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.142852{col 26}{space 2} .4901325{col 37}{space 1}   -2.33{col 46}{space 3}0.021{col 54}{space 4}-2.110033{col 67}{space 3}-.1756707
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-1.1428519

{txt}added scalar:
               e(sd62) =  {res}.49013254

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.7179582{col 26}{space 2} .3595054{col 37}{space 1}   -2.00{col 46}{space 3}0.047{col 54}{space 4}-1.427372{col 67}{space 3}-.0085442
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.7179582

{txt}added scalar:
               e(sd43) =  {res}.35950541

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.9182325{col 26}{space 2} .3725101{col 37}{space 1}   -2.46{col 46}{space 3}0.015{col 54}{space 4}-1.653309{col 67}{space 3}-.1831564
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.91823254

{txt}added scalar:
               e(sd53) =  {res}.37251007

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0569652{col 26}{space 2} .4053308{col 37}{space 1}   -0.14{col 46}{space 3}0.888{col 54}{space 4}-.8568066{col 67}{space 3} .7428762
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.0569652

{txt}added scalar:
               e(sd63) =  {res}.40533076

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2002743{col 26}{space 2} .2510343{col 37}{space 1}   -0.80{col 46}{space 3}0.426{col 54}{space 4}-.6956418{col 67}{space 3} .2950931
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.20027435

{txt}added scalar:
               e(sd54) =  {res}.25103435

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .660993{col 26}{space 2} .3025885{col 37}{space 1}    2.18{col 46}{space 3}0.030{col 54}{space 4} .0638934{col 67}{space 3} 1.258093
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}.660993

{txt}added scalar:
               e(sd64) =  {res}.30258853

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .8612673{col 26}{space 2} .3107311{col 37}{space 1}    2.77{col 46}{space 3}0.006{col 54}{space 4}    .2481{col 67}{space 3} 1.474435
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}.86126734

{txt}added scalar:
               e(sd65) =  {res}.31073111

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     3.22
                                                {txt}Prob > F          = {res}    0.0008
                                                {txt}R-squared         = {res}    0.0808
                                                {txt}Root MSE          =    {res} 18.398

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mspe6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 13.92173{col 33}{space 2} 4.882734{col 44}{space 1}    2.85{col 53}{space 3}0.005{col 61}{space 4} 4.286608{col 74}{space 3} 23.55686
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 5.787918{col 33}{space 2}  2.40146{col 44}{space 1}    2.41{col 53}{space 3}0.017{col 61}{space 4} 1.049104{col 74}{space 3} 10.52673
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .6051501{col 33}{space 2} 1.670512{col 44}{space 1}    0.36{col 53}{space 3}0.718{col 61}{space 4}-2.691281{col 74}{space 3} 3.901581
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 1.050282{col 33}{space 2} 1.377621{col 44}{space 1}    0.76{col 53}{space 3}0.447{col 61}{space 4}-1.668186{col 74}{space 3}  3.76875
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 1.166721{col 33}{space 2} 1.331678{col 44}{space 1}    0.88{col 53}{space 3}0.382{col 61}{space 4}-1.461086{col 74}{space 3} 3.794528
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-1.231871{col 33}{space 2} 1.025012{col 44}{space 1}   -1.20{col 53}{space 3}0.231{col 61}{space 4}-3.254533{col 74}{space 3} .7907915
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .1688154{col 33}{space 2} .9411535{col 44}{space 1}    0.18{col 53}{space 3}0.858{col 61}{space 4}-1.688368{col 74}{space 3} 2.025999
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0345353{col 33}{space 2} .3751907{col 44}{space 1}    0.09{col 53}{space 3}0.927{col 61}{space 4}-.7058305{col 74}{space 3}  .774901
{txt}{space 13}female {c |}{col 21}{res}{space 2}-1.954758{col 33}{space 2} 1.845893{col 44}{space 1}   -1.06{col 53}{space 3}0.291{col 61}{space 4}-5.597269{col 74}{space 3} 1.687753
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} -2.41147{col 33}{space 2} 1.904296{col 44}{space 1}   -1.27{col 53}{space 3}0.207{col 61}{space 4}-6.169228{col 74}{space 3} 1.346287
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 7.949149{col 33}{space 2} 2.851718{col 44}{space 1}    2.79{col 53}{space 3}0.006{col 61}{space 4} 2.321838{col 74}{space 3} 13.57646
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-8.133815{col 26}{space 2} 5.787404{col 37}{space 1}   -1.41{col 46}{space 3}0.162{col 54}{space 4}-19.55413{col 67}{space 3}   3.2865
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-8.1338153

{txt}added scalar:
               e(sd32) =  {res}5.7874036

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-13.31658{col 26}{space 2} 4.768121{col 37}{space 1}   -2.79{col 46}{space 3}0.006{col 54}{space 4}-22.72554{col 67}{space 3}-3.907624
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-13.316583

{txt}added scalar:
               e(sd42) =  {res}4.7681212

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-12.87145{col 26}{space 2} 4.604699{col 37}{space 1}   -2.80{col 46}{space 3}0.006{col 54}{space 4}-21.95793{col 67}{space 3}-3.784974
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-12.871451

{txt}added scalar:
               e(sd52) =  {res}4.6046986

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-12.75501{col 26}{space 2} 4.527131{col 37}{space 1}   -2.82{col 46}{space 3}0.005{col 54}{space 4}-21.68842{col 67}{space 3}-3.821601
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-12.755012

{txt}added scalar:
               e(sd62) =  {res}4.5271309

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-5.182768{col 26}{space 2} 2.797198{col 37}{space 1}   -1.85{col 46}{space 3}0.066{col 54}{space 4}-10.70249{col 67}{space 3} .3369585
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-5.1827681

{txt}added scalar:
               e(sd43) =  {res}2.7971983

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4.737636{col 26}{space 2} 2.470499{col 37}{space 1}   -1.92{col 46}{space 3}0.057{col 54}{space 4}-9.612684{col 67}{space 3} .1374123
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-4.737636

{txt}added scalar:
               e(sd53) =  {res}2.4704986

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4.621197{col 26}{space 2} 2.570629{col 37}{space 1}   -1.80{col 46}{space 3}0.074{col 54}{space 4}-9.693834{col 67}{space 3}   .45144
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-4.6211971

{txt}added scalar:
               e(sd63) =  {res}2.5706295

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4451321{col 26}{space 2} 1.635132{col 37}{space 1}    0.27{col 46}{space 3}0.786{col 54}{space 4}-2.781482{col 67}{space 3} 3.671746
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.44513211

{txt}added scalar:
               e(sd54) =  {res}1.6351317

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .5615709{col 26}{space 2} 1.724151{col 37}{space 1}    0.33{col 46}{space 3}0.745{col 54}{space 4}-2.840705{col 67}{space 3} 3.963847
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}.56157095

{txt}added scalar:
               e(sd64) =  {res}1.7241509

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mspe6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1164388{col 26}{space 2} 1.247151{col 37}{space 1}    0.09{col 46}{space 3}0.926{col 54}{space 4}-2.344571{col 67}{space 3} 2.577449
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}.11643884

{txt}added scalar:
               e(sd65) =  {res}1.2471512

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     5.28
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.0788
                                                {txt}Root MSE          =    {res} 16.009

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-2.832657{col 33}{space 2} 3.558343{col 44}{space 1}   -0.80{col 53}{space 3}0.427{col 61}{space 4}-9.854355{col 74}{space 3} 4.189042
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-3.673568{col 33}{space 2} 3.458256{col 44}{space 1}   -1.06{col 53}{space 3}0.290{col 61}{space 4}-10.49776{col 74}{space 3} 3.150627
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .3576245{col 33}{space 2} 4.382532{col 44}{space 1}    0.08{col 53}{space 3}0.935{col 61}{space 4} -8.29045{col 74}{space 3} 9.005699
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-4.011647{col 33}{space 2}  3.84296{col 44}{space 1}   -1.04{col 53}{space 3}0.298{col 61}{space 4}-11.59498{col 74}{space 3} 3.571686
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-10.44024{col 33}{space 2} 4.126885{col 44}{space 1}   -2.53{col 53}{space 3}0.012{col 61}{space 4}-18.58384{col 74}{space 3}-2.296633
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .8388638{col 33}{space 2}  .715884{col 44}{space 1}    1.17{col 53}{space 3}0.243{col 61}{space 4} -.573794{col 74}{space 3} 2.251522
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-2.290638{col 33}{space 2} 1.049078{col 44}{space 1}   -2.18{col 53}{space 3}0.030{col 61}{space 4}-4.360789{col 74}{space 3}-.2204867
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.4762354{col 33}{space 2} .3027317{col 44}{space 1}   -1.57{col 53}{space 3}0.117{col 61}{space 4}-1.073617{col 74}{space 3} .1211466
{txt}{space 13}female {c |}{col 21}{res}{space 2} -.145564{col 33}{space 2}  1.76904{col 44}{space 1}   -0.08{col 53}{space 3}0.935{col 61}{space 4}-3.636421{col 74}{space 3} 3.345293
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-4.210074{col 33}{space 2} 1.671683{col 44}{space 1}   -2.52{col 53}{space 3}0.013{col 61}{space 4}-7.508816{col 74}{space 3}-.9113327
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 18.52509{col 33}{space 2}  5.56811{col 44}{space 1}    3.33{col 53}{space 3}0.001{col 61}{space 4} 7.537507{col 74}{space 3} 29.51267
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.8409112{col 26}{space 2}   2.0875{col 37}{space 1}   -0.40{col 46}{space 3}0.688{col 54}{space 4}-4.960187{col 67}{space 3} 3.278365
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.84091123

{txt}added scalar:
               e(sd32) =  {res}2.0875004

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3.190281{col 26}{space 2} 2.951742{col 37}{space 1}    1.08{col 46}{space 3}0.281{col 54}{space 4}-2.634408{col 67}{space 3}  9.01497
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}3.1902813

{txt}added scalar:
               e(sd42) =  {res}2.9517423

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.178991{col 26}{space 2} 2.277415{col 37}{space 1}   -0.52{col 46}{space 3}0.605{col 54}{space 4}-5.673027{col 67}{space 3} 3.315045
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-1.1789907

{txt}added scalar:
               e(sd52) =  {res}2.2774153

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -7.60758{col 26}{space 2} 2.301924{col 37}{space 1}   -3.30{col 46}{space 3}0.001{col 54}{space 4}-12.14998{col 67}{space 3}-3.065182
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-7.6075804

{txt}added scalar:
               e(sd62) =  {res}2.3019236

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 4.031192{col 26}{space 2} 2.628369{col 37}{space 1}    1.53{col 46}{space 3}0.127{col 54}{space 4}-1.155383{col 67}{space 3} 9.217768
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}4.0311925

{txt}added scalar:
               e(sd43) =  {res}2.6283691

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.3380795{col 26}{space 2} 1.889581{col 37}{space 1}   -0.18{col 46}{space 3}0.858{col 54}{space 4}-4.066801{col 67}{space 3} 3.390642
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.33807945

{txt}added scalar:
               e(sd53) =  {res}1.8895814

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-6.766669{col 26}{space 2} 1.877358{col 37}{space 1}   -3.60{col 46}{space 3}0.000{col 54}{space 4}-10.47127{col 67}{space 3}-3.062069
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-6.7666691

{txt}added scalar:
               e(sd63) =  {res}1.8773579

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4.369272{col 26}{space 2} 2.821593{col 37}{space 1}   -1.55{col 46}{space 3}0.123{col 54}{space 4}-9.937136{col 67}{space 3} 1.198592
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-4.3692719

{txt}added scalar:
               e(sd54) =  {res}2.8215926

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-10.79786{col 26}{space 2} 2.827526{col 37}{space 1}   -3.82{col 46}{space 3}0.000{col 54}{space 4}-16.37743{col 67}{space 3}-5.218289
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-10.797862

{txt}added scalar:
               e(sd64) =  {res}2.8275262

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -6.42859{col 26}{space 2} 1.111303{col 37}{space 1}   -5.78{col 46}{space 3}0.000{col 54}{space 4} -8.62153{col 67}{space 3}-4.235649
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-6.4285897

{txt}added scalar:
               e(sd65) =  {res}1.111303

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     4.76
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.1709
                                                {txt}Root MSE          =    {res} 253.68

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe16{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-75.87481{col 33}{space 2} 30.92361{col 44}{space 1}   -2.45{col 53}{space 3}0.015{col 61}{space 4}-136.8965{col 74}{space 3}-14.85308
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-103.9022{col 33}{space 2}  30.3454{col 44}{space 1}   -3.42{col 53}{space 3}0.001{col 61}{space 4}-163.7829{col 74}{space 3}-44.02146
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 178.9761{col 33}{space 2} 89.53469{col 44}{space 1}    2.00{col 53}{space 3}0.047{col 61}{space 4} 2.296767{col 74}{space 3} 355.6553
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 128.3308{col 33}{space 2} 55.32084{col 44}{space 1}    2.32{col 53}{space 3}0.021{col 61}{space 4} 19.16588{col 74}{space 3} 237.4957
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-73.90126{col 33}{space 2} 39.64828{col 44}{space 1}   -1.86{col 53}{space 3}0.064{col 61}{space 4}-152.1394{col 74}{space 3} 4.336904
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-21.01853{col 33}{space 2} 14.45978{col 44}{space 1}   -1.45{col 53}{space 3}0.148{col 61}{space 4}-49.55209{col 74}{space 3} 7.515026
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-6.659731{col 33}{space 2} 19.97608{col 44}{space 1}   -0.33{col 53}{space 3}0.739{col 61}{space 4}-46.07863{col 74}{space 3} 32.75917
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.1476643{col 33}{space 2} 5.816656{col 44}{space 1}   -0.03{col 53}{space 3}0.980{col 61}{space 4} -11.6257{col 74}{space 3} 11.33037
{txt}{space 13}female {c |}{col 21}{res}{space 2} 51.85073{col 33}{space 2} 40.27476{col 44}{space 1}    1.29{col 53}{space 3}0.200{col 61}{space 4}-27.62367{col 74}{space 3} 131.3251
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}  4.79536{col 33}{space 2}  16.7402{col 44}{space 1}    0.29{col 53}{space 3}0.775{col 61}{space 4}-28.23816{col 74}{space 3} 37.82888
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 143.8992{col 33}{space 2} 73.09829{col 44}{space 1}    1.97{col 53}{space 3}0.051{col 61}{space 4}-.3460541{col 74}{space 3} 288.1445
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-28.02739{col 26}{space 2} 17.67082{col 37}{space 1}   -1.59{col 46}{space 3}0.114{col 54}{space 4}-62.89732{col 67}{space 3} 6.842538
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-28.027389

{txt}added scalar:
               e(sd32) =  {res}17.670821

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 254.8509{col 26}{space 2} 84.00773{col 37}{space 1}    3.03{col 46}{space 3}0.003{col 54}{space 4} 89.07795{col 67}{space 3} 420.6238
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}254.85086

{txt}added scalar:
               e(sd42) =  {res}84.007732

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 204.2056{col 26}{space 2} 50.28463{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4} 104.9787{col 67}{space 3} 303.4325
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}204.20561

{txt}added scalar:
               e(sd52) =  {res}50.284628

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.973548{col 26}{space 2} 31.31622{col 37}{space 1}    0.06{col 46}{space 3}0.950{col 54}{space 4}-59.82291{col 67}{space 3} 63.77001
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}1.9735479

{txt}added scalar:
               e(sd62) =  {res}31.316216

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 282.8783{col 26}{space 2} 86.58027{col 37}{space 1}    3.27{col 46}{space 3}0.001{col 54}{space 4} 112.0289{col 67}{space 3} 453.7276
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}282.87825

{txt}added scalar:
               e(sd43) =  {res}86.58027

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  232.233{col 26}{space 2} 50.11715{col 37}{space 1}    4.63{col 46}{space 3}0.000{col 54}{space 4} 133.3366{col 67}{space 3} 331.1295
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}232.233

{txt}added scalar:
               e(sd53) =  {res}50.117153

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 30.00094{col 26}{space 2} 27.75797{col 37}{space 1}    1.08{col 46}{space 3}0.281{col 54}{space 4}-24.77402{col 67}{space 3} 84.77589
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}30.000937

{txt}added scalar:
               e(sd63) =  {res}27.75797

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-50.64525{col 26}{space 2} 93.62466{col 37}{space 1}   -0.54{col 46}{space 3}0.589{col 54}{space 4}-235.3953{col 67}{space 3} 134.1048
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-50.645251

{txt}added scalar:
               e(sd54) =  {res}93.624665

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-252.8773{col 26}{space 2} 86.86834{col 37}{space 1}   -2.91{col 46}{space 3}0.004{col 54}{space 4}-424.2951{col 67}{space 3}-81.45955
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-252.87732

{txt}added scalar:
               e(sd64) =  {res}86.868341

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-202.2321{col 26}{space 2}  49.4225{col 37}{space 1}   -4.09{col 46}{space 3}0.000{col 54}{space 4}-299.7578{col 67}{space 3}-104.7064
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-202.23206

{txt}added scalar:
               e(sd65) =  {res}49.422505

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     1.89
                                                {txt}Prob > F          = {res}    0.0494
                                                {txt}R-squared         = {res}    0.1343
                                                {txt}Root MSE          =    {res} 96.181

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe21{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-4.022156{col 33}{space 2} 8.785555{col 44}{space 1}   -0.46{col 53}{space 3}0.648{col 61}{space 4}-21.35874{col 74}{space 3} 13.31443
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-2.788284{col 33}{space 2} 8.927042{col 44}{space 1}   -0.31{col 53}{space 3}0.755{col 61}{space 4}-20.40406{col 74}{space 3}  14.8275
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 6.043361{col 33}{space 2} 12.77181{col 44}{space 1}    0.47{col 53}{space 3}0.637{col 61}{space 4}-19.15933{col 74}{space 3} 31.24605
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 42.74327{col 33}{space 2} 24.64556{col 44}{space 1}    1.73{col 53}{space 3}0.085{col 61}{space 4}-5.889957{col 74}{space 3}  91.3765
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-32.14563{col 33}{space 2} 11.13086{col 44}{space 1}   -2.89{col 53}{space 3}0.004{col 61}{space 4}-54.11022{col 74}{space 3}-10.18104
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 15.62324{col 33}{space 2} 6.683534{col 44}{space 1}    2.34{col 53}{space 3}0.021{col 61}{space 4} 2.434581{col 74}{space 3} 28.81189
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-29.75241{col 33}{space 2} 12.79063{col 44}{space 1}   -2.33{col 53}{space 3}0.021{col 61}{space 4}-54.99223{col 74}{space 3}-4.512597
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .4918276{col 33}{space 2} 1.146997{col 44}{space 1}    0.43{col 53}{space 3}0.669{col 61}{space 4}-1.771548{col 74}{space 3} 2.755204
{txt}{space 13}female {c |}{col 21}{res}{space 2} 14.40335{col 33}{space 2} 12.23985{col 44}{space 1}    1.18{col 53}{space 3}0.241{col 61}{space 4}-9.749607{col 74}{space 3}  38.5563
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-22.30041{col 33}{space 2}  10.1769{col 44}{space 1}   -2.19{col 53}{space 3}0.030{col 61}{space 4}-42.38254{col 74}{space 3}-2.218286
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 59.51268{col 33}{space 2} 17.07535{col 44}{space 1}    3.49{col 53}{space 3}0.001{col 61}{space 4}  25.8178{col 74}{space 3} 93.20756
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.233872{col 26}{space 2} 6.145213{col 37}{space 1}    0.20{col 46}{space 3}0.841{col 54}{space 4}-10.89251{col 67}{space 3} 13.36026
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.2338725

{txt}added scalar:
               e(sd32) =  {res}6.1452135

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 10.06552{col 26}{space 2} 13.39786{col 37}{space 1}    0.75{col 46}{space 3}0.453{col 54}{space 4}-16.37255{col 67}{space 3} 36.50359
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}10.065517

{txt}added scalar:
               e(sd42) =  {res}13.397859

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 46.76543{col 26}{space 2} 20.72256{col 37}{space 1}    2.26{col 46}{space 3}0.025{col 54}{space 4} 5.873487{col 67}{space 3} 87.65737
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}46.765426

{txt}added scalar:
               e(sd52) =  {res}20.72256

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-28.12347{col 26}{space 2} 14.77596{col 37}{space 1}   -1.90{col 46}{space 3}0.059{col 54}{space 4}-57.28095{col 67}{space 3} 1.034006
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-28.123473

{txt}added scalar:
               e(sd62) =  {res}14.775958

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 8.831645{col 26}{space 2} 13.20221{col 37}{space 1}    0.67{col 46}{space 3}0.504{col 54}{space 4}-17.22034{col 67}{space 3} 34.88363
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}8.8316449

{txt}added scalar:
               e(sd43) =  {res}13.202208

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 45.53155{col 26}{space 2} 20.05439{col 37}{space 1}    2.27{col 46}{space 3}0.024{col 54}{space 4}  5.95812{col 67}{space 3} 85.10499
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}45.531554

{txt}added scalar:
               e(sd53) =  {res}20.054389

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-29.35735{col 26}{space 2} 14.94569{col 37}{space 1}   -1.96{col 46}{space 3}0.051{col 54}{space 4}-58.84976{col 67}{space 3} .1350727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-29.357346

{txt}added scalar:
               e(sd63) =  {res}14.945694

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 36.69991{col 26}{space 2} 28.18593{col 37}{space 1}    1.30{col 46}{space 3}0.195{col 54}{space 4}-18.91954{col 67}{space 3} 92.31936
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}36.699909

{txt}added scalar:
               e(sd54) =  {res}28.185931

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-38.18899{col 26}{space 2} 15.14378{col 37}{space 1}   -2.52{col 46}{space 3}0.013{col 54}{space 4}-68.07229{col 67}{space 3}-8.305689
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-38.188991

{txt}added scalar:
               e(sd64) =  {res}15.143779

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -74.8889{col 26}{space 2}  30.5294{col 37}{space 1}   -2.45{col 46}{space 3}0.015{col 54}{space 4}-135.1327{col 67}{space 3}-14.64507
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-74.8889

{txt}added scalar:
               e(sd65) =  {res}30.5294

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     5.91
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2111
                                                {txt}Root MSE          =    {res} 53.013

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe25{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-13.41709{col 33}{space 2} 6.587224{col 44}{space 1}   -2.04{col 53}{space 3}0.043{col 61}{space 4}-26.41569{col 74}{space 3}-.4184829
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-20.78791{col 33}{space 2}  6.19338{col 44}{space 1}   -3.36{col 53}{space 3}0.001{col 61}{space 4}-33.00935{col 74}{space 3}-8.566484
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 37.18016{col 33}{space 2} 17.79358{col 44}{space 1}    2.09{col 53}{space 3}0.038{col 61}{space 4} 2.067988{col 74}{space 3} 72.29233
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 33.56621{col 33}{space 2} 11.81881{col 44}{space 1}    2.84{col 53}{space 3}0.005{col 61}{space 4} 10.24408{col 74}{space 3} 56.88833
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-22.94816{col 33}{space 2} 7.977429{col 44}{space 1}   -2.88{col 53}{space 3}0.005{col 61}{space 4}-38.69007{col 74}{space 3}-7.206258
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-1.153593{col 33}{space 2} 3.281532{col 44}{space 1}   -0.35{col 53}{space 3}0.726{col 61}{space 4}-7.629058{col 74}{space 3} 5.321873
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-7.714592{col 33}{space 2} 4.801573{col 44}{space 1}   -1.61{col 53}{space 3}0.110{col 61}{space 4}-17.18956{col 74}{space 3} 1.760378
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.0252778{col 33}{space 2} 1.152135{col 44}{space 1}   -0.02{col 53}{space 3}0.983{col 61}{space 4}-2.298793{col 74}{space 3} 2.248237
{txt}{space 13}female {c |}{col 21}{res}{space 2} 12.86792{col 33}{space 2} 8.404143{col 44}{space 1}    1.53{col 53}{space 3}0.128{col 61}{space 4}-3.716022{col 74}{space 3} 29.45186
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-4.912569{col 33}{space 2} 3.785029{col 44}{space 1}   -1.30{col 53}{space 3}0.196{col 61}{space 4}-12.38159{col 74}{space 3} 2.556448
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 46.43548{col 33}{space 2} 14.77735{col 44}{space 1}    3.14{col 53}{space 3}0.002{col 61}{space 4} 17.27526{col 74}{space 3} 75.59569
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.370826{col 26}{space 2} 4.049092{col 37}{space 1}   -1.82{col 46}{space 3}0.070{col 54}{space 4}-15.36092{col 67}{space 3} .6192684
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-7.370826

{txt}added scalar:
               e(sd32) =  {res}4.0490916

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 50.59725{col 26}{space 2} 17.00311{col 37}{space 1}    2.98{col 46}{space 3}0.003{col 54}{space 4} 17.04491{col 67}{space 3} 84.14958
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}50.597247

{txt}added scalar:
               e(sd42) =  {res}17.003114

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  46.9833{col 26}{space 2} 10.76797{col 37}{space 1}    4.36{col 46}{space 3}0.000{col 54}{space 4} 25.73481{col 67}{space 3} 68.23178
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}46.983296

{txt}added scalar:
               e(sd52) =  {res}10.767966

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.531074{col 26}{space 2} 7.166544{col 37}{space 1}   -1.33{col 46}{space 3}0.185{col 54}{space 4}-23.67285{col 67}{space 3} 4.610706
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-9.5310738

{txt}added scalar:
               e(sd62) =  {res}7.166544

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 57.96807{col 26}{space 2} 17.39256{col 37}{space 1}    3.33{col 46}{space 3}0.001{col 54}{space 4} 23.64724{col 67}{space 3}  92.2889
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}57.968073

{txt}added scalar:
               e(sd43) =  {res}17.392559

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 54.35412{col 26}{space 2} 10.54518{col 37}{space 1}    5.15{col 46}{space 3}0.000{col 54}{space 4} 33.54526{col 67}{space 3} 75.16298
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}54.354122

{txt}added scalar:
               e(sd53) =  {res}10.545178

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.160248{col 26}{space 2} 6.295709{col 37}{space 1}   -0.34{col 46}{space 3}0.732{col 54}{space 4}-14.58361{col 67}{space 3} 10.26311
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-2.1602478

{txt}added scalar:
               e(sd63) =  {res}6.2957092

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.613951{col 26}{space 2} 19.19132{col 37}{space 1}   -0.19{col 46}{space 3}0.851{col 54}{space 4}-41.48429{col 67}{space 3} 34.25638
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-3.6139514

{txt}added scalar:
               e(sd54) =  {res}19.191319

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-60.12832{col 26}{space 2} 17.18364{col 37}{space 1}   -3.50{col 46}{space 3}0.001{col 54}{space 4} -94.0369{col 67}{space 3}-26.21974
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-60.128321

{txt}added scalar:
               e(sd64) =  {res}17.183644

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-56.51437{col 26}{space 2} 11.39911{col 37}{space 1}   -4.96{col 46}{space 3}0.000{col 54}{space 4}-79.00829{col 67}{space 3}-34.02045
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-56.51437

{txt}added scalar:
               e(sd65) =  {res}11.399107

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     1.46
                                                {txt}Prob > F          = {res}    0.1605
                                                {txt}R-squared         = {res}    0.1382
                                                {txt}Root MSE          =    {res}  18.01

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe26{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-6.622237{col 33}{space 2} 3.438819{col 44}{space 1}   -1.93{col 53}{space 3}0.056{col 61}{space 4}-13.42917{col 74}{space 3} .1846939
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-6.326336{col 33}{space 2} 3.084257{col 44}{space 1}   -2.05{col 53}{space 3}0.042{col 61}{space 4}-12.43143{col 74}{space 3}-.2212376
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-6.883099{col 33}{space 2} 3.095534{col 44}{space 1}   -2.22{col 53}{space 3}0.028{col 61}{space 4}-13.01052{col 74}{space 3}-.7556803
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} .3755708{col 33}{space 2} 5.779827{col 44}{space 1}    0.06{col 53}{space 3}0.948{col 61}{space 4}-11.06524{col 74}{space 3} 11.81638
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} -8.79426{col 33}{space 2}  2.87846{col 44}{space 1}   -3.06{col 53}{space 3}0.003{col 61}{space 4}-14.49199{col 74}{space 3}-3.096525
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 1.599718{col 33}{space 2} 1.091723{col 44}{space 1}    1.47{col 53}{space 3}0.145{col 61}{space 4}-.5612805{col 74}{space 3} 3.760717
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.3259259{col 33}{space 2} 1.247414{col 44}{space 1}   -0.26{col 53}{space 3}0.794{col 61}{space 4}-2.795105{col 74}{space 3} 2.143253
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} -1.60463{col 33}{space 2} .7900759{col 44}{space 1}   -2.03{col 53}{space 3}0.044{col 61}{space 4}-3.168537{col 74}{space 3}-.0407229
{txt}{space 13}female {c |}{col 21}{res}{space 2} 5.420328{col 33}{space 2} 3.745037{col 44}{space 1}    1.45{col 53}{space 3}0.150{col 61}{space 4}-1.992743{col 74}{space 3}  12.8334
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-4.167978{col 33}{space 2} 2.748213{col 44}{space 1}   -1.52{col 53}{space 3}0.132{col 61}{space 4}-9.607898{col 74}{space 3} 1.271941
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 26.70143{col 33}{space 2} 3.848662{col 44}{space 1}    6.94{col 53}{space 3}0.000{col 61}{space 4} 19.08324{col 74}{space 3} 34.31963
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2959009{col 26}{space 2} 2.409731{col 37}{space 1}    0.12{col 46}{space 3}0.902{col 54}{space 4}-4.474014{col 67}{space 3} 5.065816
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.29590094

{txt}added scalar:
               e(sd32) =  {res}2.4097309

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2608624{col 26}{space 2} 2.741685{col 37}{space 1}   -0.10{col 46}{space 3}0.924{col 54}{space 4}-5.687861{col 67}{space 3} 5.166136
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.26086242

{txt}added scalar:
               e(sd42) =  {res}2.7416854

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 6.997807{col 26}{space 2} 5.165248{col 37}{space 1}    1.35{col 46}{space 3}0.178{col 54}{space 4}-3.226484{col 67}{space 3}  17.2221
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}6.9978075

{txt}added scalar:
               e(sd52) =  {res}5.165248

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.172023{col 26}{space 2} 2.841368{col 37}{space 1}   -0.76{col 46}{space 3}0.446{col 54}{space 4}-7.796338{col 67}{space 3} 3.452291
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-2.1720232

{txt}added scalar:
               e(sd62) =  {res}2.8413683

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.5567634{col 26}{space 2} 2.101232{col 37}{space 1}   -0.26{col 46}{space 3}0.791{col 54}{space 4}-4.716023{col 67}{space 3} 3.602497
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.55676336

{txt}added scalar:
               e(sd43) =  {res}2.1012321

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 6.701907{col 26}{space 2} 5.050151{col 37}{space 1}    1.33{col 46}{space 3}0.187{col 54}{space 4}-3.294557{col 67}{space 3} 16.69837
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}6.7019065

{txt}added scalar:
               e(sd53) =  {res}5.0501505

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.467924{col 26}{space 2} 2.450487{col 37}{space 1}   -1.01{col 46}{space 3}0.316{col 54}{space 4}-7.318513{col 67}{space 3} 2.382665
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-2.4679242

{txt}added scalar:
               e(sd63) =  {res}2.4504873

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  7.25867{col 26}{space 2} 5.402093{col 37}{space 1}    1.34{col 46}{space 3}0.182{col 54}{space 4}-3.434443{col 67}{space 3} 17.95178
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}7.2586699

{txt}added scalar:
               e(sd54) =  {res}5.4020935

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.911161{col 26}{space 2} 2.321154{col 37}{space 1}   -0.82{col 46}{space 3}0.412{col 54}{space 4}-6.505742{col 67}{space 3} 2.683421
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-1.9111608

{txt}added scalar:
               e(sd64) =  {res}2.3211537

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.169831{col 26}{space 2} 5.468528{col 37}{space 1}   -1.68{col 46}{space 3}0.096{col 54}{space 4}-19.99445{col 67}{space 3} 1.654785
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-9.1698307

{txt}added scalar:
               e(sd65) =  {res}5.4685281

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     1.76
                                                {txt}Prob > F          = {res}    0.0748
                                                {txt}R-squared         = {res}    0.1193
                                                {txt}Root MSE          =    {res} 17.533

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe31{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-17.55845{col 33}{space 2} 10.01192{col 44}{space 1}   -1.75{col 53}{space 3}0.082{col 61}{space 4}-37.37643{col 74}{space 3} 2.259522
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} -16.6602{col 33}{space 2}  9.95469{col 44}{space 1}   -1.67{col 53}{space 3}0.097{col 61}{space 4} -36.3649{col 74}{space 3} 3.044503
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-15.09242{col 33}{space 2} 9.556137{col 44}{space 1}   -1.58{col 53}{space 3}0.117{col 61}{space 4}-34.00821{col 74}{space 3} 3.823363
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-16.05392{col 33}{space 2} 9.760718{col 44}{space 1}   -1.64{col 53}{space 3}0.103{col 61}{space 4}-35.37466{col 74}{space 3} 3.266821
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-18.17246{col 33}{space 2}  8.33742{col 44}{space 1}   -2.18{col 53}{space 3}0.031{col 61}{space 4}-34.67588{col 74}{space 3}-1.669051
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 1.369604{col 33}{space 2}  .958084{col 44}{space 1}    1.43{col 53}{space 3}0.155{col 61}{space 4}-.5268642{col 74}{space 3} 3.266073
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} 1.153991{col 33}{space 2} 1.373344{col 44}{space 1}    0.84{col 53}{space 3}0.402{col 61}{space 4}-1.564459{col 74}{space 3}  3.87244
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.8088153{col 33}{space 2} .6379463{col 44}{space 1}   -1.27{col 53}{space 3}0.207{col 61}{space 4}-2.071591{col 74}{space 3} .4539603
{txt}{space 13}female {c |}{col 21}{res}{space 2} 1.583671{col 33}{space 2} 3.678436{col 44}{space 1}    0.43{col 53}{space 3}0.668{col 61}{space 4}-5.697568{col 74}{space 3} 8.864909
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-2.572216{col 33}{space 2} 2.430805{col 44}{space 1}   -1.06{col 53}{space 3}0.292{col 61}{space 4}-7.383845{col 74}{space 3} 2.239413
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 30.00313{col 33}{space 2} 7.906135{col 44}{space 1}    3.79{col 53}{space 3}0.000{col 61}{space 4} 14.35342{col 74}{space 3} 45.65284
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .8982569{col 26}{space 2}  2.02657{col 37}{space 1}    0.44{col 46}{space 3}0.658{col 54}{space 4}-3.113214{col 67}{space 3} 4.909727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.89825685

{txt}added scalar:
               e(sd32) =  {res}2.0265697

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2.466028{col 26}{space 2} 2.185357{col 37}{space 1}    1.13{col 46}{space 3}0.261{col 54}{space 4}-1.859753{col 67}{space 3} 6.791809
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}2.4660278

{txt}added scalar:
               e(sd42) =  {res}2.1853574

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.504532{col 26}{space 2}  3.88623{col 37}{space 1}    0.39{col 46}{space 3}0.699{col 54}{space 4}-6.188022{col 67}{space 3} 9.197085
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}1.5045317

{txt}added scalar:
               e(sd52) =  {res}3.8862298

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.6140105{col 26}{space 2} 2.828594{col 37}{space 1}   -0.22{col 46}{space 3}0.829{col 54}{space 4}-6.213038{col 67}{space 3} 4.985017
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.61401054

{txt}added scalar:
               e(sd62) =  {res}2.8285936

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.567771{col 26}{space 2} 1.621997{col 37}{space 1}    0.97{col 46}{space 3}0.336{col 54}{space 4}-1.642873{col 67}{space 3} 4.778415
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}1.5677709

{txt}added scalar:
               e(sd43) =  {res}1.621997

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .6062749{col 26}{space 2} 3.719922{col 37}{space 1}    0.16{col 46}{space 3}0.871{col 54}{space 4}-6.757083{col 67}{space 3} 7.969633
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.60627488

{txt}added scalar:
               e(sd53) =  {res}3.7199221

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.512267{col 26}{space 2} 2.492894{col 37}{space 1}   -0.61{col 46}{space 3}0.545{col 54}{space 4}-6.446799{col 67}{space 3} 3.422264
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-1.5122674

{txt}added scalar:
               e(sd63) =  {res}2.4928942

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.961496{col 26}{space 2} 3.760982{col 37}{space 1}   -0.26{col 46}{space 3}0.799{col 54}{space 4} -8.40613{col 67}{space 3} 6.483138
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.96149603

{txt}added scalar:
               e(sd54) =  {res}3.7609823

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.080038{col 26}{space 2} 2.049279{col 37}{space 1}   -1.50{col 46}{space 3}0.135{col 54}{space 4} -7.13646{col 67}{space 3} .9763835
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-3.0800383

{txt}added scalar:
               e(sd64) =  {res}2.0492788

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.118542{col 26}{space 2} 3.691839{col 37}{space 1}   -0.57{col 46}{space 3}0.567{col 54}{space 4}-9.426311{col 67}{space 3} 5.189226
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-2.1185423

{txt}added scalar:
               e(sd65) =  {res}3.6918388

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     5.57
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2458
                                                {txt}Root MSE          =    {res} 37.694

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}             mspe35{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-24.18103{col 33}{space 2} 12.11206{col 44}{space 1}   -2.00{col 53}{space 3}0.048{col 61}{space 4}-48.15611{col 74}{space 3}-.2059633
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-30.83773{col 33}{space 2} 12.16529{col 44}{space 1}   -2.53{col 53}{space 3}0.013{col 61}{space 4}-54.91818{col 74}{space 3}-6.757275
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 3.882574{col 33}{space 2}  16.0073{col 44}{space 1}    0.24{col 53}{space 3}0.809{col 61}{space 4} -27.8029{col 74}{space 3} 35.56805
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 12.05961{col 33}{space 2} 14.75342{col 44}{space 1}    0.82{col 53}{space 3}0.415{col 61}{space 4}-17.14388{col 74}{space 3}  41.2631
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-36.69908{col 33}{space 2} 12.63246{col 44}{space 1}   -2.91{col 53}{space 3}0.004{col 61}{space 4}-61.70425{col 74}{space 3} -11.6939
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .5301955{col 33}{space 2} 4.204714{col 44}{space 1}    0.13{col 53}{space 3}0.900{col 61}{space 4}-7.792778{col 74}{space 3} 8.853169
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-5.201545{col 33}{space 2} 5.541275{col 44}{space 1}   -0.94{col 53}{space 3}0.350{col 61}{space 4}-16.17016{col 74}{space 3} 5.767069
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.9315438{col 33}{space 2} 1.423079{col 44}{space 1}   -0.65{col 53}{space 3}0.514{col 61}{space 4}-3.748442{col 74}{space 3} 1.885355
{txt}{space 13}female {c |}{col 21}{res}{space 2}  6.45888{col 33}{space 2}  8.48231{col 44}{space 1}    0.76{col 53}{space 3}0.448{col 61}{space 4}-10.33133{col 74}{space 3} 23.24909
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} -6.36491{col 33}{space 2} 5.117402{col 44}{space 1}   -1.24{col 53}{space 3}0.216{col 61}{space 4}-16.49449{col 74}{space 3} 3.764675
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 58.30583{col 33}{space 2} 21.67495{col 44}{space 1}    2.69{col 53}{space 3}0.008{col 61}{space 4}  15.4016{col 74}{space 3} 101.2101
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-6.656693{col 26}{space 2} 4.623628{col 37}{space 1}   -1.44{col 46}{space 3}0.152{col 54}{space 4}-15.80888{col 67}{space 3} 2.495496
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-6.6566926

{txt}added scalar:
               e(sd32) =  {res}4.623628

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 28.06361{col 26}{space 2} 12.24375{col 37}{space 1}    2.29{col 46}{space 3}0.024{col 54}{space 4} 3.827856{col 67}{space 3} 52.29936
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}28.063609

{txt}added scalar:
               e(sd42) =  {res}12.24375

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 36.24065{col 26}{space 2} 8.785356{col 37}{space 1}    4.13{col 46}{space 3}0.000{col 54}{space 4} 18.85057{col 67}{space 3} 53.63072
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}36.240647

{txt}added scalar:
               e(sd52) =  {res}8.7853563

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-12.51804{col 26}{space 2} 7.719356{col 37}{space 1}   -1.62{col 46}{space 3}0.107{col 54}{space 4}-27.79803{col 67}{space 3} 2.761949
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-12.518043

{txt}added scalar:
               e(sd62) =  {res}7.7193559

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  34.7203{col 26}{space 2} 11.84793{col 37}{space 1}    2.93{col 46}{space 3}0.004{col 54}{space 4} 11.26805{col 67}{space 3} 58.17255
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}34.720301

{txt}added scalar:
               e(sd43) =  {res}11.847929

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 42.89734{col 26}{space 2}  8.94864{col 37}{space 1}    4.79{col 46}{space 3}0.000{col 54}{space 4} 25.18406{col 67}{space 3} 60.61062
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}42.89734

{txt}added scalar:
               e(sd53) =  {res}8.9486397

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -5.86135{col 26}{space 2} 8.034003{col 37}{space 1}   -0.73{col 46}{space 3}0.467{col 54}{space 4}-21.76417{col 67}{space 3} 10.04147
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-5.8613503

{txt}added scalar:
               e(sd63) =  {res}8.034003

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 8.177038{col 26}{space 2}  12.7141{col 37}{space 1}    0.64{col 46}{space 3}0.521{col 54}{space 4}-16.98974{col 67}{space 3} 33.34382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}8.1770385

{txt}added scalar:
               e(sd54) =  {res}12.714099

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-40.58165{col 26}{space 2} 10.55751{col 37}{space 1}   -3.84{col 46}{space 3}0.000{col 54}{space 4}-61.47959{col 67}{space 3}-19.68371
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-40.581652

{txt}added scalar:
               e(sd64) =  {res}10.557509

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}      mspe35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-48.75869{col 26}{space 2} 9.808248{col 37}{space 1}   -4.97{col 46}{space 3}0.000{col 54}{space 4}-68.17351{col 67}{space 3}-29.34387
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-48.75869

{txt}added scalar:
               e(sd65) =  {res}9.8082476
{txt}
{com}. 
. 
. esttab mspe* using "output/result_mturk.csv", /*
> */  keep(_cons $treatmentlist $control) replace cells(b(star fmt(%9.2f)) se(par fmt(%9.2f))) star( * 0.10 ** 0.05 *** 0.010)  /*
> */ stats(r2_a N diff32 sd32 diff42 sd42 diff52 sd52 diff62 sd62 diff43 sd43 diff53 sd53 diff63 sd63 diff54 sd54 diff64 sd64 diff65 sd65  , fmt(%9.2f %9.0g ) labels(R-squared N T3-T2 sd T4-T2 sd T5-T2 sd T6-T2 sd T4-T3 sd T5-T3 sd T6-T3 sd T5-T4 sd T6-T4 sd T6-T5 sd))  collabels(none) title(" mspe")
{res}{txt}(output written to {browse  `"output/result_mturk.csv"'})

{com}. 
. *mean square erros 
. 
. est clear
{txt}
{com}. foreach i of numlist 1 (5)21 25 26 31 35{c -(}
{txt}  2{com}. reg mse`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. est store mse`i'
{txt} 11{com}. {c )-}

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     3.29
                                                {txt}Prob > F          = {res}    0.0006
                                                {txt}R-squared         = {res}    0.1080
                                                {txt}Root MSE          =    {res} 80.302

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}               mse1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 68.86228{col 33}{space 2} 19.66411{col 44}{space 1}    3.50{col 53}{space 3}0.001{col 61}{space 4} 30.05899{col 74}{space 3} 107.6656
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 25.79459{col 33}{space 2} 14.85798{col 44}{space 1}    1.74{col 53}{space 3}0.084{col 61}{space 4}-3.524745{col 74}{space 3} 55.11392
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-2.202121{col 33}{space 2} 10.64608{col 44}{space 1}   -0.21{col 53}{space 3}0.836{col 61}{space 4}-23.21008{col 74}{space 3} 18.80584
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-9.445385{col 33}{space 2} 11.00029{col 44}{space 1}   -0.86{col 53}{space 3}0.392{col 61}{space 4}-31.15232{col 74}{space 3} 12.26155
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 25.35601{col 33}{space 2} 12.60157{col 44}{space 1}    2.01{col 53}{space 3}0.046{col 61}{space 4}  .489251{col 74}{space 3} 50.22276
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .6605071{col 33}{space 2} 3.864059{col 44}{space 1}    0.17{col 53}{space 3}0.864{col 61}{space 4}-6.964461{col 74}{space 3} 8.285475
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-1.566448{col 33}{space 2} 4.202809{col 44}{space 1}   -0.37{col 53}{space 3}0.710{col 61}{space 4}-9.859874{col 74}{space 3} 6.726978
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} -1.07091{col 33}{space 2} 1.802017{col 44}{space 1}   -0.59{col 53}{space 3}0.553{col 61}{space 4}-4.626841{col 74}{space 3}  2.48502
{txt}{space 13}female {c |}{col 21}{res}{space 2} 7.365686{col 33}{space 2} 10.04567{col 44}{space 1}    0.73{col 53}{space 3}0.464{col 61}{space 4}-12.45748{col 74}{space 3} 27.18885
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-17.14918{col 33}{space 2} 7.865967{col 44}{space 1}   -2.18{col 53}{space 3}0.031{col 61}{space 4}-32.67114{col 74}{space 3}-1.627227
{txt}{space 14}_cons {c |}{col 21}{res}{space 2}  85.0549{col 33}{space 2} 12.64958{col 44}{space 1}    6.72{col 53}{space 3}0.000{col 61}{space 4} 60.09341{col 74}{space 3} 110.0164
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-43.06769{col 26}{space 2} 21.90164{col 37}{space 1}   -1.97{col 46}{space 3}0.051{col 54}{space 4}-86.28633{col 67}{space 3} .1509382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-43.067693

{txt}added scalar:
               e(sd32) =  {res}21.901643

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -71.0644{col 26}{space 2} 18.56402{col 37}{space 1}   -3.83{col 46}{space 3}0.000{col 54}{space 4}-107.6969{col 67}{space 3}-34.43191
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-71.064402

{txt}added scalar:
               e(sd42) =  {res}18.564024

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-78.30767{col 26}{space 2} 17.95798{col 37}{space 1}   -4.36{col 46}{space 3}0.000{col 54}{space 4}-113.7442{col 67}{space 3} -42.8711
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-78.307666

{txt}added scalar:
               e(sd52) =  {res}17.957975

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-43.50627{col 26}{space 2} 18.78558{col 37}{space 1}   -2.32{col 46}{space 3}0.022{col 54}{space 4}-80.57595{col 67}{space 3}-6.436594
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-43.506274

{txt}added scalar:
               e(sd62) =  {res}18.785576

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-27.99671{col 26}{space 2} 13.68734{col 37}{space 1}   -2.05{col 46}{space 3}0.042{col 54}{space 4}-55.00601{col 67}{space 3}-.9874074
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-27.996708

{txt}added scalar:
               e(sd43) =  {res}13.687339

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-35.23997{col 26}{space 2} 14.21259{col 37}{space 1}   -2.48{col 46}{space 3}0.014{col 54}{space 4}-63.28575{col 67}{space 3}-7.194193
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-35.239972

{txt}added scalar:
               e(sd53) =  {res}14.212589

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.4385805{col 26}{space 2} 15.55851{col 37}{space 1}   -0.03{col 46}{space 3}0.978{col 54}{space 4}-31.14027{col 67}{space 3} 30.26311
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.4385805

{txt}added scalar:
               e(sd63) =  {res}15.558509

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.243264{col 26}{space 2} 9.560356{col 37}{space 1}   -0.76{col 46}{space 3}0.450{col 54}{space 4}-26.10877{col 67}{space 3} 11.62224
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-7.2432643

{txt}added scalar:
               e(sd54) =  {res}9.560356

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 27.55813{col 26}{space 2}  11.6997{col 37}{space 1}    2.36{col 46}{space 3}0.020{col 54}{space 4} 4.471042{col 67}{space 3} 50.64521
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}27.558128

{txt}added scalar:
               e(sd64) =  {res}11.699702

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 34.80139{col 26}{space 2} 12.08379{col 37}{space 1}    2.88{col 46}{space 3}0.004{col 54}{space 4} 10.95638{col 67}{space 3}  58.6464
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}34.801392

{txt}added scalar:
               e(sd65) =  {res}12.083792

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     3.06
                                                {txt}Prob > F          = {res}    0.0013
                                                {txt}R-squared         = {res}    0.0779
                                                {txt}Root MSE          =    {res}  870.7

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}               mse6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 631.0781{col 33}{space 2} 223.9706{col 44}{space 1}    2.82{col 53}{space 3}0.005{col 61}{space 4} 189.1156{col 74}{space 3} 1073.041
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}  279.347{col 33}{space 2} 120.3207{col 44}{space 1}    2.32{col 53}{space 3}0.021{col 61}{space 4} 41.91752{col 74}{space 3} 516.7765
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 29.32774{col 33}{space 2} 86.25587{col 44}{space 1}    0.34{col 53}{space 3}0.734{col 61}{space 4}-140.8814{col 74}{space 3} 199.5369
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 41.88742{col 33}{space 2} 68.38773{col 44}{space 1}    0.61{col 53}{space 3}0.541{col 61}{space 4}-93.06247{col 74}{space 3} 176.8373
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 39.12919{col 33}{space 2} 66.66402{col 44}{space 1}    0.59{col 53}{space 3}0.558{col 61}{space 4}-92.41929{col 74}{space 3} 170.6777
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-59.35037{col 33}{space 2} 49.03109{col 44}{space 1}   -1.21{col 53}{space 3}0.228{col 61}{space 4}-156.1037{col 74}{space 3} 37.40294
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} 3.846522{col 33}{space 2} 44.80436{col 44}{space 1}    0.09{col 53}{space 3}0.932{col 61}{space 4}-84.56616{col 74}{space 3} 92.25921
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} 2.151928{col 33}{space 2} 17.74491{col 44}{space 1}    0.12{col 53}{space 3}0.904{col 61}{space 4} -32.8642{col 74}{space 3} 37.16806
{txt}{space 13}female {c |}{col 21}{res}{space 2}-100.0076{col 33}{space 2} 88.35822{col 44}{space 1}   -1.13{col 53}{space 3}0.259{col 61}{space 4}-274.3654{col 74}{space 3} 74.35013
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-118.3718{col 33}{space 2}  90.6199{col 44}{space 1}   -1.31{col 53}{space 3}0.193{col 61}{space 4}-297.1925{col 74}{space 3} 60.44898
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 399.0023{col 33}{space 2} 143.3022{col 44}{space 1}    2.78{col 53}{space 3}0.006{col 61}{space 4} 116.2234{col 74}{space 3} 681.7812
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-351.7311{col 26}{space 2} 269.6913{col 37}{space 1}   -1.30{col 46}{space 3}0.194{col 54}{space 4}-883.9143{col 67}{space 3} 180.4522
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-351.73108

{txt}added scalar:
               e(sd32) =  {res}269.69128

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-601.7503{col 26}{space 2} 219.4435{col 37}{space 1}   -2.74{col 46}{space 3}0.007{col 54}{space 4}-1034.779{col 67}{space 3}-168.7214
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-601.75034

{txt}added scalar:
               e(sd42) =  {res}219.44345

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-589.1907{col 26}{space 2} 210.5403{col 37}{space 1}   -2.80{col 46}{space 3}0.006{col 54}{space 4}-1004.651{col 67}{space 3}-173.7304
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-589.19066

{txt}added scalar:
               e(sd52) =  {res}210.54028

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-591.9489{col 26}{space 2} 207.1543{col 37}{space 1}   -2.86{col 46}{space 3}0.005{col 54}{space 4}-1000.728{col 67}{space 3}-183.1701
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-591.94889

{txt}added scalar:
               e(sd62) =  {res}207.15434

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-250.0193{col 26}{space 2} 140.1737{col 37}{space 1}   -1.78{col 46}{space 3}0.076{col 54}{space 4}-526.6248{col 67}{space 3} 26.58627
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-250.01926

{txt}added scalar:
               e(sd43) =  {res}140.1737

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-237.4596{col 26}{space 2}   120.85{col 37}{space 1}   -1.96{col 46}{space 3}0.051{col 54}{space 4}-475.9336{col 67}{space 3} 1.014401
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-237.45958

{txt}added scalar:
               e(sd53) =  {res}120.85001

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-240.2178{col 26}{space 2} 126.4693{col 37}{space 1}   -1.90{col 46}{space 3}0.059{col 54}{space 4}-489.7803{col 67}{space 3} 9.344723
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-240.21781

{txt}added scalar:
               e(sd63) =  {res}126.46929

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 12.55968{col 26}{space 2} 82.90622{col 37}{space 1}    0.15{col 46}{space 3}0.880{col 54}{space 4}-151.0396{col 67}{space 3}  176.159
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}12.559683

{txt}added scalar:
               e(sd54) =  {res}82.90622

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 9.801451{col 26}{space 2} 88.31445{col 37}{space 1}    0.11{col 46}{space 3}0.912{col 54}{space 4}-164.4699{col 67}{space 3} 184.0728
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}9.8014509

{txt}added scalar:
               e(sd64) =  {res}88.314455

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        mse6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.758232{col 26}{space 2} 60.62862{col 37}{space 1}   -0.05{col 46}{space 3}0.964{col 54}{space 4} -122.397{col 67}{space 3} 116.8805
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-2.7582318

{txt}added scalar:
               e(sd65) =  {res}60.628616

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     5.74
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.0847
                                                {txt}Root MSE          =    {res} 933.25

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-213.0638{col 33}{space 2} 207.5342{col 44}{space 1}   -1.03{col 53}{space 3}0.306{col 61}{space 4}-622.5922{col 74}{space 3} 196.4647
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-238.7732{col 33}{space 2} 204.1524{col 44}{space 1}   -1.17{col 53}{space 3}0.244{col 61}{space 4}-641.6283{col 74}{space 3} 164.0819
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}  25.6749{col 33}{space 2} 257.0501{col 44}{space 1}    0.10{col 53}{space 3}0.921{col 61}{space 4}-481.5634{col 74}{space 3} 532.9132
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-268.9878{col 33}{space 2} 225.7815{col 44}{space 1}   -1.19{col 53}{space 3}0.235{col 61}{space 4}-714.5236{col 74}{space 3}  176.548
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-645.6024{col 33}{space 2} 242.5393{col 44}{space 1}   -2.66{col 53}{space 3}0.008{col 61}{space 4}-1124.206{col 74}{space 3}-166.9983
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 46.52252{col 33}{space 2} 41.55403{col 44}{space 1}    1.12{col 53}{space 3}0.264{col 61}{space 4}-35.47628{col 74}{space 3} 128.5213
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-133.8467{col 33}{space 2} 61.41205{col 44}{space 1}   -2.18{col 53}{space 3}0.031{col 61}{space 4}-255.0315{col 74}{space 3}  -12.662
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-27.07617{col 33}{space 2} 17.48115{col 44}{space 1}   -1.55{col 53}{space 3}0.123{col 61}{space 4}-61.57182{col 74}{space 3} 7.419478
{txt}{space 13}female {c |}{col 21}{res}{space 2}-6.055554{col 33}{space 2} 103.9143{col 44}{space 1}   -0.06{col 53}{space 3}0.954{col 61}{space 4}-211.1101{col 74}{space 3}  198.999
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} -244.349{col 33}{space 2} 97.24796{col 44}{space 1}   -2.51{col 53}{space 3}0.013{col 61}{space 4} -436.249{col 74}{space 3}-52.44911
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 1112.525{col 33}{space 2} 326.4833{col 44}{space 1}    3.41{col 53}{space 3}0.001{col 61}{space 4} 468.2737{col 74}{space 3} 1756.776
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-25.70946{col 26}{space 2} 120.6491{col 37}{space 1}   -0.21{col 46}{space 3}0.831{col 54}{space 4} -263.787{col 67}{space 3} 212.3681
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-25.709464

{txt}added scalar:
               e(sd32) =  {res}120.64911

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 238.7387{col 26}{space 2} 170.1014{col 37}{space 1}    1.40{col 46}{space 3}0.162{col 54}{space 4}-96.92345{col 67}{space 3} 574.4008
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}238.73865

{txt}added scalar:
               e(sd42) =  {res}170.10144

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-55.92404{col 26}{space 2} 129.3161{col 37}{space 1}   -0.43{col 46}{space 3}0.666{col 54}{space 4}-311.1042{col 67}{space 3} 199.2561
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-55.924045

{txt}added scalar:
               e(sd52) =  {res}129.31609

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-432.5386{col 26}{space 2} 131.4729{col 37}{space 1}   -3.29{col 46}{space 3}0.001{col 54}{space 4}-691.9748{col 67}{space 3}-173.1024
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-432.53859

{txt}added scalar:
               e(sd62) =  {res}131.47292

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 264.4481{col 26}{space 2} 154.6022{col 37}{space 1}    1.71{col 46}{space 3}0.089{col 54}{space 4}-40.62917{col 67}{space 3} 569.5254
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}264.44812

{txt}added scalar:
               e(sd43) =  {res}154.60216

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-30.21458{col 26}{space 2} 110.9914{col 37}{space 1}   -0.27{col 46}{space 3}0.786{col 54}{space 4}-249.2344{col 67}{space 3} 188.8053
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-30.214581

{txt}added scalar:
               e(sd53) =  {res}110.99135

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-406.8291{col 26}{space 2} 110.5589{col 37}{space 1}   -3.68{col 46}{space 3}0.000{col 54}{space 4}-624.9956{col 67}{space 3}-188.6627
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-406.82913

{txt}added scalar:
               e(sd63) =  {res}110.55889

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-294.6627{col 26}{space 2} 163.5275{col 37}{space 1}   -1.80{col 46}{space 3}0.073{col 54}{space 4}-617.3523{col 67}{space 3} 28.02694
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-294.6627

{txt}added scalar:
               e(sd54) =  {res}163.52747

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-671.2772{col 26}{space 2} 164.3146{col 37}{space 1}   -4.09{col 46}{space 3}0.000{col 54}{space 4}-995.5202{col 67}{space 3}-347.0343
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-671.27725

{txt}added scalar:
               e(sd64) =  {res}164.31462

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-376.6145{col 26}{space 2} 64.34789{col 37}{space 1}   -5.85{col 46}{space 3}0.000{col 54}{space 4}-503.5926{col 67}{space 3}-249.6365
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-376.61455

{txt}added scalar:
               e(sd65) =  {res}64.347885

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     4.71
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.1714
                                                {txt}Root MSE          =    {res}  17663

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse16{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} -5675.97{col 33}{space 2} 2176.761{col 44}{space 1}   -2.61{col 53}{space 3}0.010{col 61}{space 4}-9971.385{col 74}{space 3}-1380.555
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-7485.885{col 33}{space 2} 2173.157{col 44}{space 1}   -3.44{col 53}{space 3}0.001{col 61}{space 4}-11774.19{col 74}{space 3}-3197.582
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}  12853.1{col 33}{space 2} 6438.555{col 44}{space 1}    2.00{col 53}{space 3}0.047{col 61}{space 4} 147.8625{col 74}{space 3} 25558.34
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 7227.013{col 33}{space 2} 3668.213{col 44}{space 1}    1.97{col 53}{space 3}0.050{col 61}{space 4}-11.49206{col 74}{space 3} 14465.52
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-5671.111{col 33}{space 2} 2794.072{col 44}{space 1}   -2.03{col 53}{space 3}0.044{col 61}{space 4}-11184.67{col 74}{space 3}-157.5535
{txt}{space 16}crt {c |}{col 21}{res}{space 2} -1522.26{col 33}{space 2}  1013.48{col 44}{space 1}   -1.50{col 53}{space 3}0.135{col 61}{space 4}-3522.165{col 74}{space 3} 477.6454
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-443.7383{col 33}{space 2} 1392.732{col 44}{space 1}   -0.32{col 53}{space 3}0.750{col 61}{space 4}-3192.024{col 74}{space 3} 2304.547
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-30.21412{col 33}{space 2} 398.4966{col 44}{space 1}   -0.08{col 53}{space 3}0.940{col 61}{space 4}-816.5696{col 74}{space 3} 756.1413
{txt}{space 13}female {c |}{col 21}{res}{space 2} 3614.691{col 33}{space 2} 2821.115{col 44}{space 1}    1.28{col 53}{space 3}0.202{col 61}{space 4}-1952.231{col 74}{space 3} 9181.613
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} 346.9569{col 33}{space 2}  1144.67{col 44}{space 1}    0.30{col 53}{space 3}0.762{col 61}{space 4}-1911.827{col 74}{space 3} 2605.741
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 10436.01{col 33}{space 2} 5197.443{col 44}{space 1}    2.01{col 53}{space 3}0.046{col 61}{space 4} 179.8642{col 74}{space 3} 20692.15
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1809.915{col 26}{space 2} 1179.075{col 37}{space 1}   -1.54{col 46}{space 3}0.127{col 54}{space 4}-4136.591{col 67}{space 3} 516.7609
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-1809.9148

{txt}added scalar:
               e(sd32) =  {res}1179.0753

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 18529.07{col 26}{space 2} 6026.646{col 37}{space 1}    3.07{col 46}{space 3}0.002{col 54}{space 4} 6636.656{col 67}{space 3} 30421.48
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}18529.069

{txt}added scalar:
               e(sd42) =  {res}6026.6456

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 12902.98{col 26}{space 2} 3247.237{col 37}{space 1}    3.97{col 46}{space 3}0.000{col 54}{space 4} 6495.193{col 67}{space 3} 19310.77
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}12902.983

{txt}added scalar:
               e(sd52) =  {res}3247.2371

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 4.859007{col 26}{space 2} 2153.082{col 37}{space 1}    0.00{col 46}{space 3}0.998{col 54}{space 4}-4243.829{col 67}{space 3} 4253.547
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}4.8590065

{txt}added scalar:
               e(sd62) =  {res}2153.0819

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 20338.98{col 26}{space 2} 6225.489{col 37}{space 1}    3.27{col 46}{space 3}0.001{col 54}{space 4} 8054.192{col 67}{space 3} 32623.78
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}20338.984

{txt}added scalar:
               e(sd43) =  {res}6225.4893

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  14712.9{col 26}{space 2} 3241.118{col 37}{space 1}    4.54{col 46}{space 3}0.000{col 54}{space 4} 8317.183{col 67}{space 3} 21108.61
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}14712.898

{txt}added scalar:
               e(sd53) =  {res}3241.1178

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1814.774{col 26}{space 2} 1928.166{col 37}{space 1}    0.94{col 46}{space 3}0.348{col 54}{space 4}-1990.086{col 67}{space 3} 5619.634
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}1814.7738

{txt}added scalar:
               e(sd63) =  {res}1928.1656

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-5626.086{col 26}{space 2} 6559.356{col 37}{space 1}   -0.86{col 46}{space 3}0.392{col 54}{space 4} -18569.7{col 67}{space 3} 7317.528
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-5626.0857

{txt}added scalar:
               e(sd54) =  {res}6559.3562

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-18524.21{col 26}{space 2} 6225.305{col 37}{space 1}   -2.98{col 46}{space 3}0.003{col 54}{space 4}-30808.64{col 67}{space 3}-6239.781
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-18524.21

{txt}added scalar:
               e(sd64) =  {res}6225.3053

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-12898.12{col 26}{space 2} 3168.587{col 37}{space 1}   -4.07{col 46}{space 3}0.000{col 54}{space 4}-19150.71{col 67}{space 3}-6645.535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-12898.124

{txt}added scalar:
               e(sd65) =  {res}3168.5867

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     2.24
                                                {txt}Prob > F          = {res}    0.0175
                                                {txt}R-squared         = {res}    0.1340
                                                {txt}Root MSE          =    {res}   5899

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse21{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-526.9763{col 33}{space 2} 551.0164{col 44}{space 1}   -0.96{col 53}{space 3}0.340{col 61}{space 4}  -1614.3{col 74}{space 3} 560.3474
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-359.5221{col 33}{space 2} 561.1622{col 44}{space 1}   -0.64{col 53}{space 3}0.523{col 61}{space 4}-1466.866{col 74}{space 3} 747.8222
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 461.9621{col 33}{space 2} 872.2292{col 44}{space 1}    0.53{col 53}{space 3}0.597{col 61}{space 4}-1259.212{col 74}{space 3} 2183.137
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 2195.024{col 33}{space 2} 1460.844{col 44}{space 1}    1.50{col 53}{space 3}0.135{col 61}{space 4}-687.6682{col 74}{space 3} 5077.716
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-2256.828{col 33}{space 2} 695.6378{col 44}{space 1}   -3.24{col 53}{space 3}0.001{col 61}{space 4}-3629.534{col 74}{space 3} -884.122
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 956.8416{col 33}{space 2} 403.7121{col 44}{space 1}    2.37{col 53}{space 3}0.019{col 61}{space 4} 160.1943{col 74}{space 3} 1753.489
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-1841.134{col 33}{space 2} 773.1916{col 44}{space 1}   -2.38{col 53}{space 3}0.018{col 61}{space 4}-3366.877{col 74}{space 3}-315.3906
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} 38.80626{col 33}{space 2} 70.08489{col 44}{space 1}    0.55{col 53}{space 3}0.580{col 61}{space 4}-99.49264{col 74}{space 3} 177.1052
{txt}{space 13}female {c |}{col 21}{res}{space 2} 848.7715{col 33}{space 2} 732.8484{col 44}{space 1}    1.16{col 53}{space 3}0.248{col 61}{space 4}-597.3623{col 74}{space 3} 2294.905
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-1410.094{col 33}{space 2}  625.385{col 44}{space 1}   -2.25{col 53}{space 3}0.025{col 61}{space 4} -2644.17{col 74}{space 3}-176.0183
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 3919.523{col 33}{space 2} 1066.793{col 44}{space 1}    3.67{col 53}{space 3}0.000{col 61}{space 4} 1814.415{col 74}{space 3} 6024.631
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 167.4542{col 26}{space 2} 379.0706{col 37}{space 1}    0.44{col 46}{space 3}0.659{col 54}{space 4}-580.5678{col 67}{space 3} 915.4762
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}167.45416

{txt}added scalar:
               e(sd32) =  {res}379.07056

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 988.9384{col 26}{space 2} 876.2847{col 37}{space 1}    1.13{col 46}{space 3}0.261{col 54}{space 4}-740.2389{col 67}{space 3} 2718.116
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}988.93841

{txt}added scalar:
               e(sd42) =  {res}876.28469

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}     2722{col 26}{space 2} 1224.203{col 37}{space 1}    2.22{col 46}{space 3}0.027{col 54}{space 4} 306.2734{col 67}{space 3} 5137.727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}2722.0001

{txt}added scalar:
               e(sd52) =  {res}1224.2031

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1729.851{col 26}{space 2} 898.5179{col 37}{space 1}   -1.93{col 46}{space 3}0.056{col 54}{space 4}-3502.902{col 67}{space 3} 43.19878
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-1729.8515

{txt}added scalar:
               e(sd62) =  {res}898.5179

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 821.4843{col 26}{space 2} 859.2048{col 37}{space 1}    0.96{col 46}{space 3}0.340{col 54}{space 4}-873.9893{col 67}{space 3} 2516.958
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}821.48425

{txt}added scalar:
               e(sd43) =  {res}859.20483

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2554.546{col 26}{space 2} 1185.742{col 37}{space 1}    2.15{col 46}{space 3}0.033{col 54}{space 4} 214.7143{col 67}{space 3} 4894.378
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}2554.5459

{txt}added scalar:
               e(sd53) =  {res}1185.7423

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1897.306{col 26}{space 2} 909.1615{col 37}{space 1}   -2.09{col 46}{space 3}0.038{col 54}{space 4}-3691.359{col 67}{space 3}-103.2524
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-1897.3056

{txt}added scalar:
               e(sd63) =  {res}909.16146

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1733.062{col 26}{space 2} 1712.512{col 37}{space 1}    1.01{col 46}{space 3}0.313{col 54}{space 4}-1646.247{col 67}{space 3} 5112.371
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}1733.0617

{txt}added scalar:
               e(sd54) =  {res}1712.5119

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -2718.79{col 26}{space 2} 1022.741{col 37}{space 1}   -2.66{col 46}{space 3}0.009{col 54}{space 4}-4736.971{col 67}{space 3}-700.6092
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-2718.7899

{txt}added scalar:
               e(sd64) =  {res}1022.7411

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4451.852{col 26}{space 2} 1804.894{col 37}{space 1}   -2.47{col 46}{space 3}0.015{col 54}{space 4}-8013.459{col 67}{space 3}-890.2441
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-4451.8516

{txt}added scalar:
               e(sd65) =  {res}1804.8942

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     6.02
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2105
                                                {txt}Root MSE          =    {res} 3639.1

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse25{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-1143.214{col 33}{space 2} 453.2955{col 44}{space 1}   -2.52{col 53}{space 3}0.013{col 61}{space 4}-2037.704{col 74}{space 3}-248.7235
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-1555.808{col 33}{space 2} 438.4319{col 44}{space 1}   -3.55{col 53}{space 3}0.000{col 61}{space 4}-2420.968{col 74}{space 3}-690.6477
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 2673.572{col 33}{space 2} 1278.545{col 44}{space 1}    2.09{col 53}{space 3}0.038{col 61}{space 4} 150.6116{col 74}{space 3} 5196.533
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 1837.098{col 33}{space 2} 771.0445{col 44}{space 1}    2.38{col 53}{space 3}0.018{col 61}{space 4}  315.592{col 74}{space 3} 3358.604
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-1701.811{col 33}{space 2}  559.502{col 44}{space 1}   -3.04{col 53}{space 3}0.003{col 61}{space 4}-2805.879{col 74}{space 3}-597.7429
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-115.5171{col 33}{space 2} 222.4193{col 44}{space 1}   -0.52{col 53}{space 3}0.604{col 61}{space 4}-554.4183{col 74}{space 3} 323.3841
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-483.2878{col 33}{space 2} 318.8285{col 44}{space 1}   -1.52{col 53}{space 3}0.131{col 61}{space 4}-1112.434{col 74}{space 3} 145.8583
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-3.480603{col 33}{space 2} 78.82275{col 44}{space 1}   -0.04{col 53}{space 3}0.965{col 61}{space 4} -159.022{col 74}{space 3} 152.0608
{txt}{space 13}female {c |}{col 21}{res}{space 2} 872.9529{col 33}{space 2}  580.565{col 44}{space 1}    1.50{col 53}{space 3}0.134{col 61}{space 4}-272.6791{col 74}{space 3} 2018.585
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-288.6014{col 33}{space 2} 252.7314{col 44}{space 1}   -1.14{col 53}{space 3}0.255{col 61}{space 4}-787.3177{col 74}{space 3} 210.1148
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 3190.422{col 33}{space 2} 1045.509{col 44}{space 1}    3.05{col 53}{space 3}0.003{col 61}{space 4} 1127.314{col 74}{space 3} 5253.531
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-412.5938{col 26}{space 2} 257.9729{col 37}{space 1}   -1.60{col 46}{space 3}0.112{col 54}{space 4} -921.653{col 67}{space 3}  96.4655
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-412.59377

{txt}added scalar:
               e(sd32) =  {res}257.97287

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3816.786{col 26}{space 2} 1212.762{col 37}{space 1}    3.15{col 46}{space 3}0.002{col 54}{space 4} 1423.637{col 67}{space 3} 6209.936
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}3816.7862

{txt}added scalar:
               e(sd42) =  {res}1212.7617

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2980.312{col 26}{space 2} 685.6132{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4} 1627.388{col 67}{space 3} 4333.236
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}2980.3121

{txt}added scalar:
               e(sd52) =  {res}685.61315

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-558.5972{col 26}{space 2} 475.7682{col 37}{space 1}   -1.17{col 46}{space 3}0.242{col 54}{space 4}-1497.433{col 67}{space 3} 380.2386
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-558.59724

{txt}added scalar:
               e(sd62) =  {res}475.76815

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  4229.38{col 26}{space 2} 1246.275{col 37}{space 1}    3.39{col 46}{space 3}0.001{col 54}{space 4}   1770.1{col 67}{space 3}  6688.66
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}4229.38

{txt}added scalar:
               e(sd43) =  {res}1246.2745

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3392.906{col 26}{space 2} 674.2109{col 37}{space 1}    5.03{col 46}{space 3}0.000{col 54}{space 4} 2062.482{col 67}{space 3}  4723.33
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}3392.9059

{txt}added scalar:
               e(sd53) =  {res}674.21093

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-146.0035{col 26}{space 2} 421.7326{col 37}{space 1}   -0.35{col 46}{space 3}0.730{col 54}{space 4}-978.2108{col 67}{space 3} 686.2039
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-146.00347

{txt}added scalar:
               e(sd63) =  {res}421.73264

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -836.474{col 26}{space 2} 1330.737{col 37}{space 1}   -0.63{col 46}{space 3}0.530{col 54}{space 4}-3462.425{col 67}{space 3} 1789.477
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-836.47405

{txt}added scalar:
               e(sd54) =  {res}1330.7374

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4375.383{col 26}{space 2} 1230.115{col 37}{space 1}   -3.56{col 46}{space 3}0.000{col 54}{space 4}-6802.777{col 67}{space 3} -1947.99
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-4375.3834

{txt}added scalar:
               e(sd64) =  {res}1230.1155

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3538.909{col 26}{space 2}  714.384{col 37}{space 1}   -4.95{col 46}{space 3}0.000{col 54}{space 4}-4948.607{col 67}{space 3}-2129.212
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-3538.9094

{txt}added scalar:
               e(sd65) =  {res}714.38401

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     2.32
                                                {txt}Prob > F          = {res}    0.0155
                                                {txt}R-squared         = {res}    0.1482
                                                {txt}Root MSE          =    {res} 1020.8

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse26{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-628.6945{col 33}{space 2} 220.3547{col 44}{space 1}   -2.85{col 53}{space 3}0.005{col 61}{space 4}-1064.873{col 74}{space 3}-192.5159
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-505.2848{col 33}{space 2} 203.3573{col 44}{space 1}   -2.48{col 53}{space 3}0.014{col 61}{space 4}-907.8181{col 74}{space 3}-102.7514
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-460.1652{col 33}{space 2} 207.6871{col 44}{space 1}   -2.22{col 53}{space 3}0.029{col 61}{space 4}-871.2691{col 74}{space 3}-49.06134
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-249.5094{col 33}{space 2} 340.2669{col 44}{space 1}   -0.73{col 53}{space 3}0.465{col 61}{space 4}-923.0469{col 74}{space 3}  424.028
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-750.4243{col 33}{space 2} 189.8244{col 44}{space 1}   -3.95{col 53}{space 3}0.000{col 61}{space 4} -1126.17{col 74}{space 3}-374.6786
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 96.36323{col 33}{space 2} 63.09669{col 44}{space 1}    1.53{col 53}{space 3}0.129{col 61}{space 4} -28.5328{col 74}{space 3} 221.2593
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-18.56406{col 33}{space 2} 70.85932{col 44}{space 1}   -0.26{col 53}{space 3}0.794{col 61}{space 4}-158.8257{col 74}{space 3} 121.6976
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-92.79643{col 33}{space 2} 44.47691{col 44}{space 1}   -2.09{col 53}{space 3}0.039{col 61}{space 4}-180.8357{col 74}{space 3}-4.757118
{txt}{space 13}female {c |}{col 21}{res}{space 2} 334.7125{col 33}{space 2} 211.7717{col 44}{space 1}    1.58{col 53}{space 3}0.117{col 61}{space 4}-84.47664{col 74}{space 3} 753.9016
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-232.5863{col 33}{space 2} 155.2692{col 44}{space 1}   -1.50{col 53}{space 3}0.137{col 61}{space 4}-539.9321{col 74}{space 3} 74.75956
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 1727.764{col 33}{space 2} 231.6385{col 44}{space 1}    7.46{col 53}{space 3}0.000{col 61}{space 4}  1269.25{col 74}{space 3} 2186.278
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 123.4097{col 26}{space 2} 137.0907{col 37}{space 1}    0.90{col 46}{space 3}0.370{col 54}{space 4}-147.9529{col 67}{space 3} 394.7723
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}123.4097

{txt}added scalar:
               e(sd32) =  {res}137.09069

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 168.5292{col 26}{space 2} 163.0998{col 37}{space 1}    1.03{col 46}{space 3}0.303{col 54}{space 4}-154.3169{col 67}{space 3} 491.3753
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}168.52922

{txt}added scalar:
               e(sd42) =  {res}163.09983

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  379.185{col 26}{space 2} 288.6236{col 37}{space 1}    1.31{col 46}{space 3}0.191{col 54}{space 4}-192.1276{col 67}{space 3} 950.4977
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}379.18504

{txt}added scalar:
               e(sd52) =  {res}288.62357

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-121.7298{col 26}{space 2} 161.8043{col 37}{space 1}   -0.75{col 46}{space 3}0.453{col 54}{space 4}-442.0115{col 67}{space 3} 198.5518
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-121.72983

{txt}added scalar:
               e(sd62) =  {res}161.80428

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 45.11952{col 26}{space 2} 131.4882{col 37}{space 1}    0.34{col 46}{space 3}0.732{col 54}{space 4}-215.1534{col 67}{space 3} 305.3924
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}45.119521

{txt}added scalar:
               e(sd43) =  {res}131.48825

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 255.7753{col 26}{space 2} 283.0395{col 37}{space 1}    0.90{col 46}{space 3}0.368{col 54}{space 4}-304.4841{col 67}{space 3} 816.0347
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}255.77534

{txt}added scalar:
               e(sd53) =  {res}283.03954

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-245.1395{col 26}{space 2}   142.13{col 37}{space 1}   -1.72{col 46}{space 3}0.087{col 54}{space 4}-526.4771{col 67}{space 3} 36.19805
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-245.13954

{txt}added scalar:
               e(sd63) =  {res}142.12998

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 210.6558{col 26}{space 2} 305.6111{col 37}{space 1}    0.69{col 46}{space 3}0.492{col 54}{space 4}-394.2827{col 67}{space 3} 815.5943
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}210.65581

{txt}added scalar:
               e(sd54) =  {res}305.61114

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-290.2591{col 26}{space 2} 141.4438{col 37}{space 1}   -2.05{col 46}{space 3}0.042{col 54}{space 4}-570.2384{col 67}{space 3}-10.27968
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-290.25906

{txt}added scalar:
               e(sd64) =  {res}141.44382

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-500.9149{col 26}{space 2} 305.4665{col 37}{space 1}   -1.64{col 46}{space 3}0.104{col 54}{space 4}-1105.567{col 67}{space 3} 103.7374
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-500.91487

{txt}added scalar:
               e(sd65) =  {res}305.46653

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     4.10
                                                {txt}Prob > F          = {res}    0.0001
                                                {txt}R-squared         = {res}    0.1633
                                                {txt}Root MSE          =    {res} 1041.3

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse31{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-1351.831{col 33}{space 2} 655.9741{col 44}{space 1}   -2.06{col 53}{space 3}0.041{col 61}{space 4}-2650.292{col 74}{space 3}-53.37059
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-1183.071{col 33}{space 2} 654.3244{col 44}{space 1}   -1.81{col 53}{space 3}0.073{col 61}{space 4}-2478.266{col 74}{space 3} 112.1238
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-989.9801{col 33}{space 2} 628.5988{col 44}{space 1}   -1.57{col 53}{space 3}0.118{col 61}{space 4}-2234.253{col 74}{space 3} 254.2927
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-1269.405{col 33}{space 2}  629.393{col 44}{space 1}   -2.02{col 53}{space 3}0.046{col 61}{space 4} -2515.25{col 74}{space 3}-23.56005
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-1358.175{col 33}{space 2} 548.9736{col 44}{space 1}   -2.47{col 53}{space 3}0.015{col 61}{space 4}-2444.834{col 74}{space 3} -271.515
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 78.73102{col 33}{space 2} 56.52005{col 44}{space 1}    1.39{col 53}{space 3}0.166{col 61}{space 4}-33.14696{col 74}{space 3}  190.609
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} 78.17517{col 33}{space 2} 87.58303{col 44}{space 1}    0.89{col 53}{space 3}0.374{col 61}{space 4}-95.19006{col 74}{space 3} 251.5404
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} -45.0441{col 33}{space 2} 35.38355{col 44}{space 1}   -1.27{col 53}{space 3}0.205{col 61}{space 4}-115.0837{col 74}{space 3} 24.99547
{txt}{space 13}female {c |}{col 21}{res}{space 2} 80.05889{col 33}{space 2} 219.7363{col 44}{space 1}    0.36{col 53}{space 3}0.716{col 61}{space 4}-354.8957{col 74}{space 3} 515.0135
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-156.9703{col 33}{space 2} 139.4302{col 44}{space 1}   -1.13{col 53}{space 3}0.262{col 61}{space 4}-432.9639{col 74}{space 3} 119.0233
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 1957.461{col 33}{space 2} 514.6083{col 44}{space 1}    3.80{col 53}{space 3}0.000{col 61}{space 4} 938.8255{col 74}{space 3} 2976.097
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 168.7599{col 26}{space 2}  110.697{col 37}{space 1}    1.52{col 46}{space 3}0.130{col 54}{space 4}-50.35808{col 67}{space 3} 387.8778
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}168.75986

{txt}added scalar:
               e(sd32) =  {res}110.69701

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  361.851{col 26}{space 2} 122.1279{col 37}{space 1}    2.96{col 46}{space 3}0.004{col 54}{space 4} 120.1062{col 67}{space 3} 603.5957
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}361.85099

{txt}added scalar:
               e(sd42) =  {res}122.12793

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 82.42615{col 26}{space 2} 209.9572{col 37}{space 1}    0.39{col 46}{space 3}0.695{col 54}{space 4}-333.1712{col 67}{space 3} 498.0235
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}82.426154

{txt}added scalar:
               e(sd52) =  {res}209.95718

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-6.343494{col 26}{space 2} 168.6733{col 37}{space 1}   -0.04{col 46}{space 3}0.970{col 54}{space 4} -340.222{col 67}{space 3}  327.535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-6.3434941

{txt}added scalar:
               e(sd62) =  {res}168.67331

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 193.0911{col 26}{space 2} 99.13245{col 37}{space 1}    1.95{col 46}{space 3}0.054{col 54}{space 4}-3.135486{col 67}{space 3} 389.3177
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}193.09113

{txt}added scalar:
               e(sd43) =  {res}99.132454

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -86.3337{col 26}{space 2} 204.0474{col 37}{space 1}   -0.42{col 46}{space 3}0.673{col 54}{space 4}-490.2329{col 67}{space 3} 317.5655
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-86.333705

{txt}added scalar:
               e(sd53) =  {res}204.04736

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-175.1034{col 26}{space 2} 156.5503{col 37}{space 1}   -1.12{col 46}{space 3}0.266{col 54}{space 4} -484.985{col 67}{space 3} 134.7783
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-175.10335

{txt}added scalar:
               e(sd63) =  {res}156.55026

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-279.4248{col 26}{space 2} 203.0285{col 37}{space 1}   -1.38{col 46}{space 3}0.171{col 54}{space 4}-681.3073{col 67}{space 3} 122.4576
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-279.42483

{txt}added scalar:
               e(sd54) =  {res}203.02849

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-368.1945{col 26}{space 2} 129.5988{col 37}{space 1}   -2.84{col 46}{space 3}0.005{col 54}{space 4}-624.7274{col 67}{space 3}-111.6615
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-368.19448

{txt}added scalar:
               e(sd64) =  {res}129.59884

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-88.76965{col 26}{space 2} 197.9316{col 37}{space 1}   -0.45{col 46}{space 3}0.655{col 54}{space 4} -480.563{col 67}{space 3} 303.0237
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-88.769648

{txt}added scalar:
               e(sd65) =  {res}197.93156

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     5.53
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2415
                                                {txt}Root MSE          =    {res} 2541.2

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              mse35{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-1960.683{col 33}{space 2} 851.6922{col 44}{space 1}   -2.30{col 53}{space 3}0.023{col 61}{space 4}-3646.555{col 74}{space 3}-274.8102
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-2291.081{col 33}{space 2} 864.7886{col 44}{space 1}   -2.65{col 53}{space 3}0.009{col 61}{space 4}-4002.877{col 74}{space 3}-579.2851
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 250.3176{col 33}{space 2} 1149.443{col 44}{space 1}    0.22{col 53}{space 3}0.828{col 61}{space 4}-2024.934{col 74}{space 3} 2525.569
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}  337.202{col 33}{space 2}  1016.66{col 44}{space 1}    0.33{col 53}{space 3}0.741{col 61}{space 4}-1675.215{col 74}{space 3} 2349.619
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-2684.148{col 33}{space 2} 911.3471{col 44}{space 1}   -2.95{col 53}{space 3}0.004{col 61}{space 4}-4488.104{col 74}{space 3}-880.1925
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-10.34913{col 33}{space 2} 283.0877{col 44}{space 1}   -0.04{col 53}{space 3}0.971{col 61}{space 4}-570.7039{col 74}{space 3} 550.0057
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} -300.184{col 33}{space 2} 355.1662{col 44}{space 1}   -0.85{col 53}{space 3}0.400{col 61}{space 4}-1003.214{col 74}{space 3} 402.8456
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-61.02394{col 33}{space 2} 99.27038{col 44}{space 1}   -0.61{col 53}{space 3}0.540{col 61}{space 4}-257.5236{col 74}{space 3} 135.4757
{txt}{space 13}female {c |}{col 21}{res}{space 2} 358.2945{col 33}{space 2} 568.3307{col 44}{space 1}    0.63{col 53}{space 3}0.530{col 61}{space 4}-766.6813{col 74}{space 3}  1483.27
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-341.2924{col 33}{space 2} 343.6444{col 44}{space 1}   -0.99{col 53}{space 3}0.323{col 61}{space 4}-1021.515{col 74}{space 3} 338.9306
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 4037.244{col 33}{space 2} 1557.089{col 44}{space 1}    2.59{col 53}{space 3}0.011{col 61}{space 4} 955.0808{col 74}{space 3} 7119.406
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-330.3984{col 26}{space 2} 279.1371{col 37}{space 1}   -1.18{col 46}{space 3}0.239{col 54}{space 4}-882.9333{col 67}{space 3} 222.1365
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-330.39841

{txt}added scalar:
               e(sd32) =  {res}279.13715

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}     2211{col 26}{space 2} 859.8781{col 37}{space 1}    2.57{col 46}{space 3}0.011{col 54}{space 4} 508.9242{col 67}{space 3} 3913.076
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}2211.0002

{txt}added scalar:
               e(sd42) =  {res}859.87815

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2297.885{col 26}{space 2} 564.8814{col 37}{space 1}    4.07{col 46}{space 3}0.000{col 54}{space 4} 1179.737{col 67}{space 3} 3416.033
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}2297.8846

{txt}added scalar:
               e(sd52) =  {res}564.88141

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-723.4655{col 26}{space 2} 496.3894{col 37}{space 1}   -1.46{col 46}{space 3}0.148{col 54}{space 4}-1706.038{col 67}{space 3}  259.107
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-723.46546

{txt}added scalar:
               e(sd62) =  {res}496.38943

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2541.399{col 26}{space 2} 842.0576{col 37}{space 1}    3.02{col 46}{space 3}0.003{col 54}{space 4} 874.5972{col 67}{space 3}   4208.2
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}2541.3986

{txt}added scalar:
               e(sd43) =  {res}842.05765

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2628.283{col 26}{space 2} 585.5002{col 37}{space 1}    4.49{col 46}{space 3}0.000{col 54}{space 4} 1469.321{col 67}{space 3} 3787.245
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}2628.283

{txt}added scalar:
               e(sd53) =  {res}585.50019

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-393.0671{col 26}{space 2}  522.715{col 37}{space 1}   -0.75{col 46}{space 3}0.454{col 54}{space 4}-1427.749{col 67}{space 3} 641.6152
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-393.06705

{txt}added scalar:
               e(sd63) =  {res}522.71496

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  86.8844{col 26}{space 2} 869.7495{col 37}{space 1}    0.10{col 46}{space 3}0.921{col 54}{space 4}-1634.731{col 67}{space 3}   1808.5
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}86.884396

{txt}added scalar:
               e(sd54) =  {res}869.74946

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2934.466{col 26}{space 2}  735.549{col 37}{space 1}   -3.99{col 46}{space 3}0.000{col 54}{space 4} -4390.44{col 67}{space 3}-1478.491
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-2934.4657

{txt}added scalar:
               e(sd64) =  {res}735.54903

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       mse35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -3021.35{col 26}{space 2} 605.1957{col 37}{space 1}   -4.99{col 46}{space 3}0.000{col 54}{space 4}-4219.298{col 67}{space 3}-1823.402
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-3021.3501

{txt}added scalar:
               e(sd65) =  {res}605.19574
{txt}
{com}. 
. esttab mse* using "output/result_mturk.csv", /*
> */  keep(_cons $treatmentlist $control) append cells(b(star fmt(%9.2f)) se(par fmt(%9.2f))) star( * 0.10 ** 0.05 *** 0.010)  /*
> */ stats(r2_a N diff32 sd32 diff42 sd42 diff52 sd52 diff62 sd62 diff43 sd43 diff53 sd53 diff63 sd63 diff54 sd54 diff64 sd64 diff65 sd65  , fmt(%9.2f %9.0g ) labels(R-squared N T3-T2 sd T4-T2 sd T5-T2 sd T6-T2 sd T4-T3 sd T5-T3 sd T6-T3 sd T5-T4 sd T6-T4 sd T6-T5 sd))  collabels(none) title(" mse")
{res}{txt}(output written to {browse  `"output/result_mturk.csv"'})

{com}. 
. *contribution rate
. 
. est clear
{txt}
{com}.  foreach i of numlist 1(5)11 15{c -(}
{txt}  2{com}. reg contribution2endowment`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. est store contribution2endowment`i'
{txt} 11{com}. {c )-}
{txt}note: t2 omitted because of collinearity
note: t3 omitted because of collinearity

Linear regression                               Number of obs     = {res}       244
                                                {txt}F(8, 121)         =  {res}    21.32
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3925
                                                {txt}Root MSE          =    {res} .07742

{txt}{ralign 85:(Std. Err. adjusted for {res:122} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}contribution2end~t1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t3 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t4 {c |}{col 21}{res}{space 2}-.0258558{col 33}{space 2} .0214113{col 44}{space 1}   -1.21{col 53}{space 3}0.230{col 61}{space 4}-.0682451{col 74}{space 3} .0165336
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} -.050749{col 33}{space 2} .0177748{col 44}{space 1}   -2.86{col 53}{space 3}0.005{col 61}{space 4}-.0859389{col 74}{space 3}-.0155591
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1508674{col 33}{space 2} .0163719{col 44}{space 1}   -9.22{col 53}{space 3}0.000{col 61}{space 4}-.1832798{col 74}{space 3} -.118455
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0024947{col 33}{space 2}  .004659{col 44}{space 1}    0.54{col 53}{space 3}0.593{col 61}{space 4}-.0067291{col 74}{space 3} .0117184
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}  .008308{col 33}{space 2} .0058904{col 44}{space 1}    1.41{col 53}{space 3}0.161{col 61}{space 4}-.0033536{col 74}{space 3} .0199696
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}  .000182{col 33}{space 2} .0021522{col 44}{space 1}    0.08{col 53}{space 3}0.933{col 61}{space 4}-.0040789{col 74}{space 3} .0044429
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0161874{col 33}{space 2} .0129673{col 44}{space 1}    1.25{col 53}{space 3}0.214{col 61}{space 4}-.0094848{col 74}{space 3} .0418596
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.0003247{col 33}{space 2} .0063862{col 44}{space 1}   -0.05{col 53}{space 3}0.960{col 61}{space 4} -.012968{col 74}{space 3} .0123185
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .1668743{col 33}{space 2} .0253294{col 44}{space 1}    6.59{col 53}{space 3}0.000{col 61}{space 4}  .116728{col 74}{space 3} .2170205
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + o.t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}0

{txt}added scalar:
               e(sd32) =  {res}0

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0258558{col 26}{space 2} .0214113{col 37}{space 1}   -1.21{col 46}{space 3}0.230{col 54}{space 4}-.0682451{col 67}{space 3} .0165336
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.02585576

{txt}added scalar:
               e(sd42) =  {res}.02141131

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.050749{col 26}{space 2} .0177748{col 37}{space 1}   -2.86{col 46}{space 3}0.005{col 54}{space 4}-.0859389{col 67}{space 3}-.0155591
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.05074902

{txt}added scalar:
               e(sd52) =  {res}.0177748

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1508674{col 26}{space 2} .0163719{col 37}{space 1}   -9.22{col 46}{space 3}0.000{col 54}{space 4}-.1832798{col 67}{space 3} -.118455
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.15086736

{txt}added scalar:
               e(sd62) =  {res}.01637185

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0258558{col 26}{space 2} .0214113{col 37}{space 1}   -1.21{col 46}{space 3}0.230{col 54}{space 4}-.0682451{col 67}{space 3} .0165336
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.02585576

{txt}added scalar:
               e(sd43) =  {res}.02141131

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.050749{col 26}{space 2} .0177748{col 37}{space 1}   -2.86{col 46}{space 3}0.005{col 54}{space 4}-.0859389{col 67}{space 3}-.0155591
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.05074902

{txt}added scalar:
               e(sd53) =  {res}.0177748

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1508674{col 26}{space 2} .0163719{col 37}{space 1}   -9.22{col 46}{space 3}0.000{col 54}{space 4}-.1832798{col 67}{space 3} -.118455
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.15086736

{txt}added scalar:
               e(sd63) =  {res}.01637185

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0248933{col 26}{space 2}   .02019{col 37}{space 1}   -1.23{col 46}{space 3}0.220{col 54}{space 4}-.0648647{col 67}{space 3} .0150782
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.02489325

{txt}added scalar:
               e(sd54) =  {res}.02019

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1250116{col 26}{space 2} .0180792{col 37}{space 1}   -6.91{col 46}{space 3}0.000{col 54}{space 4}-.1608042{col 67}{space 3} -.089219
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.1250116

{txt}added scalar:
               e(sd64) =  {res}.01807921

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1001183{col 26}{space 2} .0144203{col 37}{space 1}   -6.94{col 46}{space 3}0.000{col 54}{space 4}-.1286672{col 67}{space 3}-.0715695
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.10011834

{txt}added scalar:
               e(sd65) =  {res}.01442034
{txt}note: t2 omitted because of collinearity
note: t3 omitted because of collinearity

Linear regression                               Number of obs     = {res}       244
                                                {txt}F(8, 121)         =  {res}    14.51
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3179
                                                {txt}Root MSE          =    {res} .10306

{txt}{ralign 85:(Std. Err. adjusted for {res:122} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}contribution2endo~6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t3 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t4 {c |}{col 21}{res}{space 2}-.0166814{col 33}{space 2} .0261926{col 44}{space 1}   -0.64{col 53}{space 3}0.525{col 61}{space 4}-.0685365{col 74}{space 3} .0351738
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.0170605{col 33}{space 2} .0249104{col 44}{space 1}   -0.68{col 53}{space 3}0.495{col 61}{space 4}-.0663771{col 74}{space 3} .0322562
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1716429{col 33}{space 2} .0208472{col 44}{space 1}   -8.23{col 53}{space 3}0.000{col 61}{space 4}-.2129155{col 74}{space 3}-.1303703
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-5.25e-06{col 33}{space 2} .0072414{col 44}{space 1}   -0.00{col 53}{space 3}0.999{col 61}{space 4}-.0143415{col 74}{space 3}  .014331
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0031363{col 33}{space 2} .0085341{col 44}{space 1}   -0.37{col 53}{space 3}0.714{col 61}{space 4}-.0200319{col 74}{space 3} .0137593
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0010054{col 33}{space 2} .0030074{col 44}{space 1}    0.33{col 53}{space 3}0.739{col 61}{space 4}-.0049486{col 74}{space 3} .0069594
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0030882{col 33}{space 2} .0174581{col 44}{space 1}    0.18{col 53}{space 3}0.860{col 61}{space 4}-.0314746{col 74}{space 3}  .037651
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.0039767{col 33}{space 2} .0080861{col 44}{space 1}   -0.49{col 53}{space 3}0.624{col 61}{space 4}-.0199854{col 74}{space 3} .0120319
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2213136{col 33}{space 2} .0351294{col 44}{space 1}    6.30{col 53}{space 3}0.000{col 61}{space 4} .1517657{col 74}{space 3} .2908616
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + o.t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}0

{txt}added scalar:
               e(sd32) =  {res}0

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0166814{col 26}{space 2} .0261926{col 37}{space 1}   -0.64{col 46}{space 3}0.525{col 54}{space 4}-.0685365{col 67}{space 3} .0351738
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.01668135

{txt}added scalar:
               e(sd42) =  {res}.02619258

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0170605{col 26}{space 2} .0249104{col 37}{space 1}   -0.68{col 46}{space 3}0.495{col 54}{space 4}-.0663771{col 67}{space 3} .0322562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.01706047

{txt}added scalar:
               e(sd52) =  {res}.02491035

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1716429{col 26}{space 2} .0208472{col 37}{space 1}   -8.23{col 46}{space 3}0.000{col 54}{space 4}-.2129155{col 67}{space 3}-.1303703
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.17164288

{txt}added scalar:
               e(sd62) =  {res}.02084724

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0166814{col 26}{space 2} .0261926{col 37}{space 1}   -0.64{col 46}{space 3}0.525{col 54}{space 4}-.0685365{col 67}{space 3} .0351738
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.01668135

{txt}added scalar:
               e(sd43) =  {res}.02619258

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0170605{col 26}{space 2} .0249104{col 37}{space 1}   -0.68{col 46}{space 3}0.495{col 54}{space 4}-.0663771{col 67}{space 3} .0322562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.01706047

{txt}added scalar:
               e(sd53) =  {res}.02491035

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1716429{col 26}{space 2} .0208472{col 37}{space 1}   -8.23{col 46}{space 3}0.000{col 54}{space 4}-.2129155{col 67}{space 3}-.1303703
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.17164288

{txt}added scalar:
               e(sd63) =  {res}.02084724

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0003791{col 26}{space 2} .0281494{col 37}{space 1}   -0.01{col 46}{space 3}0.989{col 54}{space 4}-.0561082{col 67}{space 3}   .05535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.00037911

{txt}added scalar:
               e(sd54) =  {res}.02814938

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1549615{col 26}{space 2}  .023584{col 37}{space 1}   -6.57{col 46}{space 3}0.000{col 54}{space 4}-.2016522{col 67}{space 3}-.1082708
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.15496153

{txt}added scalar:
               e(sd64) =  {res}.02358398

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribut~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1545824{col 26}{space 2} .0230328{col 37}{space 1}   -6.71{col 46}{space 3}0.000{col 54}{space 4} -.200182{col 67}{space 3}-.1089828
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.15458241

{txt}added scalar:
               e(sd65) =  {res}.02303283
{txt}note: t2 omitted because of collinearity
note: t3 omitted because of collinearity

Linear regression                               Number of obs     = {res}       244
                                                {txt}F(8, 121)         =  {res}    22.89
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4157
                                                {txt}Root MSE          =    {res} .10932

{txt}{ralign 85:(Std. Err. adjusted for {res:122} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}contribution2end~11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t3 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t4 {c |}{col 21}{res}{space 2}-.0060119{col 33}{space 2} .0320041{col 44}{space 1}   -0.19{col 53}{space 3}0.851{col 61}{space 4}-.0693724{col 74}{space 3} .0573486
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.0939808{col 33}{space 2} .0250403{col 44}{space 1}   -3.75{col 53}{space 3}0.000{col 61}{space 4}-.1435545{col 74}{space 3} -.044407
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.2258565{col 33}{space 2} .0221181{col 44}{space 1}  -10.21{col 53}{space 3}0.000{col 61}{space 4}-.2696452{col 74}{space 3}-.1820678
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.0008633{col 33}{space 2} .0074795{col 44}{space 1}   -0.12{col 53}{space 3}0.908{col 61}{space 4}-.0156709{col 74}{space 3} .0139443
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0085402{col 33}{space 2} .0079968{col 44}{space 1}   -1.07{col 53}{space 3}0.288{col 61}{space 4} -.024372{col 74}{space 3} .0072916
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0003487{col 33}{space 2} .0032352{col 44}{space 1}    0.11{col 53}{space 3}0.914{col 61}{space 4}-.0060564{col 74}{space 3} .0067537
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.0012559{col 33}{space 2}  .018995{col 44}{space 1}   -0.07{col 53}{space 3}0.947{col 61}{space 4}-.0388615{col 74}{space 3} .0363497
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.0171632{col 33}{space 2} .0082229{col 44}{space 1}   -2.09{col 53}{space 3}0.039{col 61}{space 4}-.0334426{col 74}{space 3}-.0008838
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2871752{col 33}{space 2} .0346253{col 44}{space 1}    8.29{col 53}{space 3}0.000{col 61}{space 4} .2186252{col 74}{space 3} .3557252
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + o.t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}0

{txt}added scalar:
               e(sd32) =  {res}0

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0060119{col 26}{space 2} .0320041{col 37}{space 1}   -0.19{col 46}{space 3}0.851{col 54}{space 4}-.0693724{col 67}{space 3} .0573486
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.00601189

{txt}added scalar:
               e(sd42) =  {res}.03200406

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0939808{col 26}{space 2} .0250403{col 37}{space 1}   -3.75{col 46}{space 3}0.000{col 54}{space 4}-.1435545{col 67}{space 3} -.044407
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.09398076

{txt}added scalar:
               e(sd52) =  {res}.02504025

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2258565{col 26}{space 2} .0221181{col 37}{space 1}  -10.21{col 46}{space 3}0.000{col 54}{space 4}-.2696452{col 67}{space 3}-.1820678
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.22585648

{txt}added scalar:
               e(sd62) =  {res}.02211813

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0060119{col 26}{space 2} .0320041{col 37}{space 1}   -0.19{col 46}{space 3}0.851{col 54}{space 4}-.0693724{col 67}{space 3} .0573486
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.00601189

{txt}added scalar:
               e(sd43) =  {res}.03200406

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0939808{col 26}{space 2} .0250403{col 37}{space 1}   -3.75{col 46}{space 3}0.000{col 54}{space 4}-.1435545{col 67}{space 3} -.044407
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.09398076

{txt}added scalar:
               e(sd53) =  {res}.02504025

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2258565{col 26}{space 2} .0221181{col 37}{space 1}  -10.21{col 46}{space 3}0.000{col 54}{space 4}-.2696452{col 67}{space 3}-.1820678
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.22585648

{txt}added scalar:
               e(sd63) =  {res}.02211813

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0879689{col 26}{space 2} .0297932{col 37}{space 1}   -2.95{col 46}{space 3}0.004{col 54}{space 4}-.1469524{col 67}{space 3}-.0289853
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.08796886

{txt}added scalar:
               e(sd54) =  {res}.02979323

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2198446{col 26}{space 2} .0268198{col 37}{space 1}   -8.20{col 46}{space 3}0.000{col 54}{space 4}-.2729415{col 67}{space 3}-.1667477
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.21984459

{txt}added scalar:
               e(sd64) =  {res}.0268198

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1318757{col 26}{space 2} .0188674{col 37}{space 1}   -6.99{col 46}{space 3}0.000{col 54}{space 4}-.1692287{col 67}{space 3}-.0945227
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.13187572

{txt}added scalar:
               e(sd65) =  {res}.01886741
{txt}note: t2 omitted because of collinearity
note: t3 omitted because of collinearity

Linear regression                               Number of obs     = {res}       244
                                                {txt}F(8, 121)         =  {res}    21.20
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4103
                                                {txt}Root MSE          =    {res} .08748

{txt}{ralign 85:(Std. Err. adjusted for {res:122} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}contribution2end~15{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t3 {c |}{col 21}{res}{space 2}        0{col 33}{txt}  (omitted)
{space 17}t4 {c |}{col 21}{res}{space 2} -.016183{col 33}{space 2} .0255923{col 44}{space 1}   -0.63{col 53}{space 3}0.528{col 61}{space 4}-.0668497{col 74}{space 3} .0344837
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.0539301{col 33}{space 2}  .020102{col 44}{space 1}   -2.68{col 53}{space 3}0.008{col 61}{space 4}-.0937273{col 74}{space 3}-.0141329
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1827889{col 33}{space 2} .0185145{col 44}{space 1}   -9.87{col 53}{space 3}0.000{col 61}{space 4}-.2194432{col 74}{space 3}-.1461346
{txt}{space 16}crt {c |}{col 21}{res}{space 2}  .000542{col 33}{space 2} .0059677{col 44}{space 1}    0.09{col 53}{space 3}0.928{col 61}{space 4}-.0112726{col 74}{space 3} .0123567
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0011228{col 33}{space 2} .0069407{col 44}{space 1}   -0.16{col 53}{space 3}0.872{col 61}{space 4}-.0148637{col 74}{space 3} .0126181
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}  .000512{col 33}{space 2} .0026292{col 44}{space 1}    0.19{col 53}{space 3}0.846{col 61}{space 4}-.0046932{col 74}{space 3} .0057172
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0060065{col 33}{space 2} .0153002{col 44}{space 1}    0.39{col 53}{space 3}0.695{col 61}{space 4}-.0242842{col 74}{space 3} .0362973
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.0071549{col 33}{space 2} .0058539{col 44}{space 1}   -1.22{col 53}{space 3}0.224{col 61}{space 4}-.0187442{col 74}{space 3} .0044345
{txt}{space 14}_cons {c |}{col 21}{res}{space 2}  .225121{col 33}{space 2} .0294975{col 44}{space 1}    7.63{col 53}{space 3}0.000{col 61}{space 4} .1667229{col 74}{space 3} .2835192
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + o.t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}0

{txt}added scalar:
               e(sd32) =  {res}0

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.016183{col 26}{space 2} .0255923{col 37}{space 1}   -0.63{col 46}{space 3}0.528{col 54}{space 4}-.0668497{col 67}{space 3} .0344837
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.01618301

{txt}added scalar:
               e(sd42) =  {res}.02559228

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0539301{col 26}{space 2}  .020102{col 37}{space 1}   -2.68{col 46}{space 3}0.008{col 54}{space 4}-.0937273{col 67}{space 3}-.0141329
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.05393008

{txt}added scalar:
               e(sd52) =  {res}.02010198

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1827889{col 26}{space 2} .0185145{col 37}{space 1}   -9.87{col 46}{space 3}0.000{col 54}{space 4}-.2194432{col 67}{space 3}-.1461346
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.18278891

{txt}added scalar:
               e(sd62) =  {res}.01851447

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.016183{col 26}{space 2} .0255923{col 37}{space 1}   -0.63{col 46}{space 3}0.528{col 54}{space 4}-.0668497{col 67}{space 3} .0344837
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.01618301

{txt}added scalar:
               e(sd43) =  {res}.02559228

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0539301{col 26}{space 2}  .020102{col 37}{space 1}   -2.68{col 46}{space 3}0.008{col 54}{space 4}-.0937273{col 67}{space 3}-.0141329
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.05393008

{txt}added scalar:
               e(sd53) =  {res}.02010198

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- o.t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1827889{col 26}{space 2} .0185145{col 37}{space 1}   -9.87{col 46}{space 3}0.000{col 54}{space 4}-.2194432{col 67}{space 3}-.1461346
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.18278891

{txt}added scalar:
               e(sd63) =  {res}.01851447

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0377471{col 26}{space 2} .0240363{col 37}{space 1}   -1.57{col 46}{space 3}0.119{col 54}{space 4}-.0853334{col 67}{space 3} .0098392
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.03774708

{txt}added scalar:
               e(sd54) =  {res}.02403635

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1666059{col 26}{space 2}  .022115{col 37}{space 1}   -7.53{col 46}{space 3}0.000{col 54}{space 4}-.2103884{col 67}{space 3}-.1228234
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.1666059

{txt}added scalar:
               e(sd64) =  {res}.022115

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}contribu~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1288588{col 26}{space 2} .0161913{col 37}{space 1}   -7.96{col 46}{space 3}0.000{col 54}{space 4}-.1609139{col 67}{space 3}-.0968038
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.12885883

{txt}added scalar:
               e(sd65) =  {res}.01619134
{txt}
{com}. 
. 
. *saving rate
. 
.  foreach i of numlist 1(5)11 15{c -(}
{txt}  2{com}. reg totalsaving2endowment`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. foreach j of numlist 1/3{c -(}
{txt} 11{com}. sum totalsaving2endowment`i' if subsessionround_in_sequence==`i' & sessiontype==`=`j'+10'
{txt} 12{com}. local mean`j'=r(mean)
{txt} 13{com}. {c )-}
{txt} 14{com}. estadd scalar mean21=`mean2'-`mean1'
{txt} 15{com}. estadd scalar mean31=`mean3'-`mean1'
{txt} 16{com}. estadd scalar mean32=`mean3'-`mean2'
{txt} 17{com}. 
. est store totalsaving2endowment`i'
{txt} 18{com}. {c )-}

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    15.07
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3683
                                                {txt}Root MSE          =    {res}  .0811

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}totalsaving2endo~t1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1065854{col 33}{space 2} .0192144{col 44}{space 1}   -5.55{col 53}{space 3}0.000{col 61}{space 4}-.1445013{col 74}{space 3}-.0686695
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.0964924{col 33}{space 2} .0170863{col 44}{space 1}   -5.65{col 53}{space 3}0.000{col 61}{space 4}-.1302089{col 74}{space 3} -.062776
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.0024295{col 33}{space 2} .0140963{col 44}{space 1}   -0.17{col 53}{space 3}0.863{col 61}{space 4}-.0302457{col 74}{space 3} .0253868
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.0011276{col 33}{space 2} .0141932{col 44}{space 1}   -0.08{col 53}{space 3}0.937{col 61}{space 4}-.0291351{col 74}{space 3}   .02688
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1478829{col 33}{space 2} .0170118{col 44}{space 1}   -8.69{col 53}{space 3}0.000{col 61}{space 4}-.1814525{col 74}{space 3}-.1143134
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0016221{col 33}{space 2} .0046591{col 44}{space 1}    0.35{col 53}{space 3}0.728{col 61}{space 4}-.0075716{col 74}{space 3} .0108159
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0009696{col 33}{space 2}  .005461{col 44}{space 1}   -0.18{col 53}{space 3}0.859{col 61}{space 4}-.0117457{col 74}{space 3} .0098066
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0020896{col 33}{space 2} .0019308{col 44}{space 1}    1.08{col 53}{space 3}0.281{col 61}{space 4}-.0017205{col 74}{space 3} .0058997
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.0157899{col 33}{space 2} .0108399{col 44}{space 1}   -1.46{col 53}{space 3}0.147{col 61}{space 4}-.0371804{col 74}{space 3} .0056005
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0069623{col 33}{space 2} .0062129{col 44}{space 1}    1.12{col 53}{space 3}0.264{col 61}{space 4}-.0052976{col 74}{space 3} .0192222
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2101368{col 33}{space 2} .0190829{col 44}{space 1}   11.01{col 53}{space 3}0.000{col 61}{space 4} .1724805{col 74}{space 3} .2477932
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .010093{col 26}{space 2} .0218705{col 37}{space 1}    0.46{col 46}{space 3}0.645{col 54}{space 4}-.0330642{col 67}{space 3} .0532502
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.01009299

{txt}added scalar:
               e(sd32) =  {res}.0218705

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .104156{col 26}{space 2} .0200075{col 37}{space 1}    5.21{col 46}{space 3}0.000{col 54}{space 4} .0646751{col 67}{space 3} .1436368
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}.10415598

{txt}added scalar:
               e(sd42) =  {res}.02000748

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1054579{col 26}{space 2} .0202466{col 37}{space 1}    5.21{col 46}{space 3}0.000{col 54}{space 4} .0655052{col 67}{space 3} .1454106
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}.10545787

{txt}added scalar:
               e(sd52) =  {res}.02024659

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0412975{col 26}{space 2} .0223705{col 37}{space 1}   -1.85{col 46}{space 3}0.067{col 54}{space 4}-.0854413{col 67}{space 3} .0028464
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.04129749

{txt}added scalar:
               e(sd62) =  {res}.02237051

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .094063{col 26}{space 2} .0180744{col 37}{space 1}    5.20{col 46}{space 3}0.000{col 54}{space 4} .0583966{col 67}{space 3} .1297293
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.09406299

{txt}added scalar:
               e(sd43) =  {res}.01807441

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0953649{col 26}{space 2} .0181315{col 37}{space 1}    5.26{col 46}{space 3}0.000{col 54}{space 4}  .059586{col 67}{space 3} .1311438
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.09536488

{txt}added scalar:
               e(sd53) =  {res}.01813146

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0513905{col 26}{space 2} .0201105{col 37}{space 1}   -2.56{col 46}{space 3}0.011{col 54}{space 4}-.0910747{col 67}{space 3}-.0117063
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.05139049

{txt}added scalar:
               e(sd63) =  {res}.02011053

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0013019{col 26}{space 2} .0156881{col 37}{space 1}    0.08{col 46}{space 3}0.934{col 54}{space 4}-.0296556{col 67}{space 3} .0322593
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.00130189

{txt}added scalar:
               e(sd54) =  {res}.01568812

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1454535{col 26}{space 2} .0174242{col 37}{space 1}   -8.35{col 46}{space 3}0.000{col 54}{space 4}-.1798367{col 67}{space 3}-.1110703
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.14545347

{txt}added scalar:
               e(sd64) =  {res}.01742417

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1467554{col 26}{space 2} .0184509{col 37}{space 1}   -7.95{col 46}{space 3}0.000{col 54}{space 4}-.1831646{col 67}{space 3}-.1103462
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.14675536

{txt}added scalar:
               e(sd65) =  {res}.01845087

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t1 {c |}{res}          1    .1352028           .   .1352028   .1352028

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t1 {c |}{res}          1    .1444666           .   .1444666   .1444666

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t1 {c |}{res}          1    .1548312           .   .1548312   .1548312

{txt}added scalar:
             e(mean21) =  {res}.00926381

{txt}added scalar:
             e(mean31) =  {res}.01962841

{txt}added scalar:
             e(mean32) =  {res}.01036459

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    13.71
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3435
                                                {txt}Root MSE          =    {res} .13969

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}totalsaving2endow~6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1452953{col 33}{space 2} .0307716{col 44}{space 1}   -4.72{col 53}{space 3}0.000{col 61}{space 4}-.2060172{col 74}{space 3}-.0845735
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.1362914{col 33}{space 2} .0273877{col 44}{space 1}   -4.98{col 53}{space 3}0.000{col 61}{space 4}-.1903357{col 74}{space 3}-.0822472
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .0108217{col 33}{space 2} .0257406{col 44}{space 1}    0.42{col 53}{space 3}0.675{col 61}{space 4}-.0399723{col 74}{space 3} .0616157
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} .1209477{col 33}{space 2} .0273895{col 44}{space 1}    4.42{col 53}{space 3}0.000{col 61}{space 4} .0668997{col 74}{space 3} .1749956
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1355754{col 33}{space 2} .0272571{col 44}{space 1}   -4.97{col 53}{space 3}0.000{col 61}{space 4} -.189362{col 74}{space 3}-.0817888
{txt}{space 16}crt {c |}{col 21}{res}{space 2}  .003064{col 33}{space 2} .0078014{col 44}{space 1}    0.39{col 53}{space 3}0.695{col 61}{space 4}-.0123305{col 74}{space 3} .0184585
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0064178{col 33}{space 2} .0102168{col 44}{space 1}   -0.63{col 53}{space 3}0.531{col 61}{space 4}-.0265787{col 74}{space 3} .0137432
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0024248{col 33}{space 2} .0031653{col 44}{space 1}    0.77{col 53}{space 3}0.445{col 61}{space 4}-.0038212{col 74}{space 3} .0086708
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.0081966{col 33}{space 2} .0182498{col 44}{space 1}   -0.45{col 53}{space 3}0.654{col 61}{space 4} -.044209{col 74}{space 3} .0278158
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0098518{col 33}{space 2} .0111427{col 44}{space 1}    0.88{col 53}{space 3}0.378{col 61}{space 4}-.0121361{col 74}{space 3} .0318397
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2280653{col 33}{space 2} .0347335{col 44}{space 1}    6.57{col 53}{space 3}0.000{col 61}{space 4} .1595255{col 74}{space 3} .2966052
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0090039{col 26}{space 2} .0341725{col 37}{space 1}    0.26{col 46}{space 3}0.792{col 54}{space 4}-.0584289{col 67}{space 3} .0764367
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.00900389

{txt}added scalar:
               e(sd32) =  {res}.03417251

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .156117{col 26}{space 2} .0332348{col 37}{space 1}    4.70{col 46}{space 3}0.000{col 54}{space 4} .0905346{col 67}{space 3} .2216995
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}.15611701

{txt}added scalar:
               e(sd42) =  {res}.03323482

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .266243{col 26}{space 2} .0350792{col 37}{space 1}    7.59{col 46}{space 3}0.000{col 54}{space 4}  .197021{col 67}{space 3}  .335465
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}.266243

{txt}added scalar:
               e(sd52) =  {res}.03507919

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}   .00972{col 26}{space 2} .0344473{col 37}{space 1}    0.28{col 46}{space 3}0.778{col 54}{space 4} -.058255{col 67}{space 3}  .077695
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.00971998

{txt}added scalar:
               e(sd62) =  {res}.03444729

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1471131{col 26}{space 2} .0302415{col 37}{space 1}    4.86{col 46}{space 3}0.000{col 54}{space 4} .0874373{col 67}{space 3} .2067889
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.14711311

{txt}added scalar:
               e(sd43) =  {res}.03024153

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2572391{col 26}{space 2} .0321016{col 37}{space 1}    8.01{col 46}{space 3}0.000{col 54}{space 4} .1938929{col 67}{space 3} .3205853
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.25723911

{txt}added scalar:
               e(sd53) =  {res}.03210157

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0007161{col 26}{space 2} .0314428{col 37}{space 1}    0.02{col 46}{space 3}0.982{col 54}{space 4}-.0613301{col 67}{space 3} .0627623
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.00071609

{txt}added scalar:
               e(sd63) =  {res}.03144278

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .110126{col 26}{space 2} .0303723{col 37}{space 1}    3.63{col 46}{space 3}0.000{col 54}{space 4} .0501921{col 67}{space 3} .1700599
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.11012599

{txt}added scalar:
               e(sd54) =  {res}.03037233

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.146397{col 26}{space 2} .0295099{col 37}{space 1}   -4.96{col 46}{space 3}0.000{col 54}{space 4} -.204629{col 67}{space 3}-.0881651
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.14639703

{txt}added scalar:
               e(sd64) =  {res}.02950986

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsavi~t6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.256523{col 26}{space 2} .0313726{col 37}{space 1}   -8.18{col 46}{space 3}0.000{col 54}{space 4}-.3184308{col 67}{space 3}-.1946153
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.25652302

{txt}added scalar:
               e(sd65) =  {res}.03137261

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t6 {c |}{res}          1    .1691271           .   .1691271   .1691271

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t6 {c |}{res}          1    .2685358           .   .2685358   .2685358

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsavi~t6 {c |}{res}          1    .2868668           .   .2868668   .2868668

{txt}added scalar:
             e(mean21) =  {res}.0994087

{txt}added scalar:
             e(mean31) =  {res}.11773969

{txt}added scalar:
             e(mean32) =  {res}.01833099

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    15.53
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3884
                                                {txt}Root MSE          =    {res} .19966

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}totalsaving2endo~11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1037806{col 33}{space 2} .0409545{col 44}{space 1}   -2.53{col 53}{space 3}0.012{col 61}{space 4}-.1845963{col 74}{space 3}-.0229649
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.1387011{col 33}{space 2} .0408758{col 44}{space 1}   -3.39{col 53}{space 3}0.001{col 61}{space 4}-.2193615{col 74}{space 3}-.0580407
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .0731673{col 33}{space 2} .0394957{col 44}{space 1}    1.85{col 53}{space 3}0.066{col 61}{space 4}-.0047698{col 74}{space 3} .1511044
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} .3358584{col 33}{space 2} .0419806{col 44}{space 1}    8.00{col 53}{space 3}0.000{col 61}{space 4} .2530178{col 74}{space 3} .4186989
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.0574987{col 33}{space 2} .0402734{col 44}{space 1}   -1.43{col 53}{space 3}0.155{col 61}{space 4}-.1369703{col 74}{space 3}  .021973
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.0030051{col 33}{space 2} .0112686{col 44}{space 1}   -0.27{col 53}{space 3}0.790{col 61}{space 4}-.0252416{col 74}{space 3} .0192314
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} -.008202{col 33}{space 2}  .015333{col 44}{space 1}   -0.53{col 53}{space 3}0.593{col 61}{space 4}-.0384586{col 74}{space 3} .0220546
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0056403{col 33}{space 2} .0048409{col 44}{space 1}    1.17{col 53}{space 3}0.246{col 61}{space 4}-.0039124{col 74}{space 3} .0151929
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.0202811{col 33}{space 2} .0257864{col 44}{space 1}   -0.79{col 53}{space 3}0.433{col 61}{space 4}-.0711655{col 74}{space 3} .0306033
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0271831{col 33}{space 2} .0152424{col 44}{space 1}    1.78{col 53}{space 3}0.076{col 61}{space 4}-.0028948{col 74}{space 3} .0572609
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .1959682{col 33}{space 2} .0536446{col 44}{space 1}    3.65{col 53}{space 3}0.000{col 61}{space 4} .0901111{col 74}{space 3} .3018253
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0349205{col 26}{space 2} .0465997{col 37}{space 1}   -0.75{col 46}{space 3}0.455{col 54}{space 4}-.1268759{col 67}{space 3} .0570348
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.03492052

{txt}added scalar:
               e(sd32) =  {res}.04659966

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1769479{col 26}{space 2} .0462541{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .0856744{col 67}{space 3} .2682214
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}.17694791

{txt}added scalar:
               e(sd42) =  {res}.04625413

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .439639{col 26}{space 2} .0488955{col 37}{space 1}    8.99{col 46}{space 3}0.000{col 54}{space 4} .3431533{col 67}{space 3} .5361246
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}.43963895

{txt}added scalar:
               e(sd52) =  {res}.04889547

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0462819{col 26}{space 2} .0473155{col 37}{space 1}    0.98{col 46}{space 3}0.329{col 54}{space 4} -.047086{col 67}{space 3} .1396499
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.04628192

{txt}added scalar:
               e(sd62) =  {res}.04731551

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2118684{col 26}{space 2}  .047058{col 37}{space 1}    4.50{col 46}{space 3}0.000{col 54}{space 4} .1190087{col 67}{space 3} .3047282
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.21186843

{txt}added scalar:
               e(sd43) =  {res}.04705796

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4745595{col 26}{space 2} .0499669{col 37}{space 1}    9.50{col 46}{space 3}0.000{col 54}{space 4} .3759596{col 67}{space 3} .5731594
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.47455947

{txt}added scalar:
               e(sd53) =  {res}.04996686

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0812024{col 26}{space 2} .0483312{col 37}{space 1}    1.68{col 46}{space 3}0.095{col 54}{space 4}-.0141698{col 67}{space 3} .1765746
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.08120244

{txt}added scalar:
               e(sd63) =  {res}.04833119

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .262691{col 26}{space 2} .0469435{col 37}{space 1}    5.60{col 46}{space 3}0.000{col 54}{space 4} .1700573{col 67}{space 3} .3553248
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.26269104

{txt}added scalar:
               e(sd54) =  {res}.04694346

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.130666{col 26}{space 2} .0454276{col 37}{space 1}   -2.88{col 46}{space 3}0.005{col 54}{space 4}-.2203086{col 67}{space 3}-.0410234
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.13066599

{txt}added scalar:
               e(sd64) =  {res}.04542765

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.393357{col 26}{space 2} .0466802{col 37}{space 1}   -8.43{col 46}{space 3}0.000{col 54}{space 4}-.4854713{col 67}{space 3}-.3012428
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.39335703

{txt}added scalar:
               e(sd65) =  {res}.04668019

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t11 {c |}{res}          1    .0376754           .   .0376754   .0376754

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t11 {c |}{res}          1    .2775376           .   .2775376   .2775376

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t11 {c |}{res}          1    .3140884           .   .3140884   .3140884

{txt}added scalar:
             e(mean21) =  {res}.23986218

{txt}added scalar:
             e(mean31) =  {res}.276413

{txt}added scalar:
             e(mean32) =  {res}.03655082

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    16.61
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4075
                                                {txt}Root MSE          =    {res} .12299

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}totalsaving2endo~15{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1185538{col 33}{space 2} .0265784{col 44}{space 1}   -4.46{col 53}{space 3}0.000{col 61}{space 4} -.171001{col 74}{space 3}-.0661066
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.1238283{col 33}{space 2} .0246689{col 44}{space 1}   -5.02{col 53}{space 3}0.000{col 61}{space 4}-.1725076{col 74}{space 3}-.0751491
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .0271865{col 33}{space 2} .0233118{col 44}{space 1}    1.17{col 53}{space 3}0.245{col 61}{space 4}-.0188147{col 74}{space 3} .0731877
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} .1518928{col 33}{space 2} .0252837{col 44}{space 1}    6.01{col 53}{space 3}0.000{col 61}{space 4} .1020004{col 74}{space 3} .2017852
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1136523{col 33}{space 2} .0261365{col 44}{space 1}   -4.35{col 53}{space 3}0.000{col 61}{space 4}-.1652275{col 74}{space 3}-.0620771
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0005603{col 33}{space 2}  .007223{col 44}{space 1}    0.08{col 53}{space 3}0.938{col 61}{space 4}-.0136929{col 74}{space 3} .0148136
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0051965{col 33}{space 2} .0096915{col 44}{space 1}   -0.54{col 53}{space 3}0.592{col 61}{space 4}-.0243208{col 74}{space 3} .0139279
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0033849{col 33}{space 2} .0030139{col 44}{space 1}    1.12{col 53}{space 3}0.263{col 61}{space 4}-.0025625{col 74}{space 3} .0093322
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.0147559{col 33}{space 2} .0168114{col 44}{space 1}   -0.88{col 53}{space 3}0.381{col 61}{space 4}  -.04793{col 74}{space 3} .0184182
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0146657{col 33}{space 2} .0085079{col 44}{space 1}    1.72{col 53}{space 3}0.086{col 61}{space 4}-.0021229{col 74}{space 3} .0314544
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2113901{col 33}{space 2} .0314704{col 44}{space 1}    6.72{col 53}{space 3}0.000{col 61}{space 4} .1492894{col 74}{space 3} .2734908
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0052745{col 26}{space 2} .0298285{col 37}{space 1}   -0.18{col 46}{space 3}0.860{col 54}{space 4}-.0641353{col 67}{space 3} .0535863
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.00527455

{txt}added scalar:
               e(sd32) =  {res}.02982853

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1457403{col 26}{space 2} .0296318{col 37}{space 1}    4.92{col 46}{space 3}0.000{col 54}{space 4} .0872678{col 67}{space 3} .2042128
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}.1457403

{txt}added scalar:
               e(sd42) =  {res}.02963176

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2704466{col 26}{space 2} .0314444{col 37}{space 1}    8.60{col 46}{space 3}0.000{col 54}{space 4} .2083971{col 67}{space 3} .3324961
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}.27044661

{txt}added scalar:
               e(sd52) =  {res}.03144444

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0049015{col 26}{space 2} .0321501{col 37}{space 1}    0.15{col 46}{space 3}0.879{col 54}{space 4}-.0585405{col 67}{space 3} .0683434
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.00490147

{txt}added scalar:
               e(sd62) =  {res}.03215009

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1510148{col 26}{space 2} .0284169{col 37}{space 1}    5.31{col 46}{space 3}0.000{col 54}{space 4} .0949397{col 67}{space 3}   .20709
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.15101485

{txt}added scalar:
               e(sd43) =  {res}.02841688

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2757212{col 26}{space 2} .0302542{col 37}{space 1}    9.11{col 46}{space 3}0.000{col 54}{space 4} .2160205{col 67}{space 3} .3354219
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.27572115

{txt}added scalar:
               e(sd53) =  {res}.03025416

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .010176{col 26}{space 2} .0308055{col 37}{space 1}    0.33{col 46}{space 3}0.742{col 54}{space 4}-.0506127{col 67}{space 3} .0709647
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.01017602

{txt}added scalar:
               e(sd63) =  {res}.03080554

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1247063{col 26}{space 2} .0287925{col 37}{space 1}    4.33{col 46}{space 3}0.000{col 54}{space 4}   .06789{col 67}{space 3} .1815226
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.12470631

{txt}added scalar:
               e(sd54) =  {res}.02879245

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1408388{col 26}{space 2} .0290819{col 37}{space 1}   -4.84{col 46}{space 3}0.000{col 54}{space 4}-.1982263{col 67}{space 3}-.0834514
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.14083883

{txt}added scalar:
               e(sd64) =  {res}.02908188

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}totalsav~t15{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2655451{col 26}{space 2} .0311019{col 37}{space 1}   -8.54{col 46}{space 3}0.000{col 54}{space 4}-.3269187{col 67}{space 3}-.2041716
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.26554514

{txt}added scalar:
               e(sd65) =  {res}.03110191

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t15 {c |}{res}          1    .1140018           .   .1140018   .1140018

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t15 {c |}{res}          1      .23018           .     .23018     .23018

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
totalsav~t15 {c |}{res}          1    .2519288           .   .2519288   .2519288

{txt}added scalar:
             e(mean21) =  {res}.11617822

{txt}added scalar:
             e(mean31) =  {res}.13792705

{txt}added scalar:
             e(mean32) =  {res}.02174883
{txt}
{com}. 
. 
. 
. 
. 
. esttab contribution2endowment* totalsaving2endowment* using "output/result_mturk.csv", /*
> */  keep(_cons $treatmentlist $control) append cells(b(star fmt(%9.2f)) se(par fmt(%9.2f))) star( * 0.10 ** 0.05 *** 0.010)  /*
> */ stats(r2_a N diff32 sd32 diff42 sd42 diff52 sd52 diff62 sd62 diff43 sd43 diff53 sd53 diff63 sd63 diff54 sd54 diff64 sd64 diff65 sd65  mean21 mean31 mean32 , fmt(%9.2f %9.0g ) labels(R-squared N T3-T2 sd T4-T2 sd T5-T2 sd T6-T2 sd T4-T3 sd T5-T3 sd T6-T3 sd T5-T4 sd T6-T4 sd T6-T5 sd T2-T1 T3-T1 T3-T2))  collabels(none) title("to endowment ratio")
{res}{txt}(output written to {browse  `"output/result_mturk.csv"'})

{com}. 
. *consumption levels
. 
.  est clear
{txt}
{com}. foreach i of numlist 1(5)21 25 26 31 35{c -(}
{txt}  2{com}. reg con`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. foreach j of numlist 1/3{c -(}
{txt} 11{com}. sum con`i' if subsessionround_in_sequence==`i' & sessiontype==`=`j'+10'
{txt} 12{com}. local mean`j'=r(mean)
{txt} 13{com}. {c )-}
{txt} 14{com}. estadd scalar mean21=`mean2'-`mean1'
{txt} 15{com}. estadd scalar mean31=`mean3'-`mean1'
{txt} 16{com}. estadd scalar mean32=`mean3'-`mean2'
{txt} 17{com}. est store con`i'
{txt} 18{com}. {c )-}

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    18.39
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4152
                                                {txt}Root MSE          =    {res} 5.8968

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}               con1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 9.330605{col 33}{space 2} 1.423853{col 44}{space 1}    6.55{col 53}{space 3}0.000{col 61}{space 4} 6.520909{col 74}{space 3}  12.1403
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 8.797176{col 33}{space 2} 1.253354{col 44}{space 1}    7.02{col 53}{space 3}0.000{col 61}{space 4} 6.323926{col 74}{space 3} 11.27043
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .4288852{col 33}{space 2} 1.109703{col 44}{space 1}    0.39{col 53}{space 3}0.700{col 61}{space 4}-1.760898{col 74}{space 3} 2.618668
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 1.737926{col 33}{space 2} 1.082162{col 44}{space 1}    1.61{col 53}{space 3}0.110{col 61}{space 4}-.3975106{col 74}{space 3} 3.873362
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}  12.1167{col 33}{space 2} 1.235973{col 44}{space 1}    9.80{col 53}{space 3}0.000{col 61}{space 4} 9.677749{col 74}{space 3} 14.55565
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.1308352{col 33}{space 2} .3355276{col 44}{space 1}   -0.39{col 53}{space 3}0.697{col 61}{space 4}-.7929337{col 74}{space 3} .5312632
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}  .069605{col 33}{space 2} .3966778{col 44}{space 1}    0.18{col 53}{space 3}0.861{col 61}{space 4}-.7131614{col 74}{space 3} .8523714
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.1392865{col 33}{space 2} .1396911{col 44}{space 1}   -1.00{col 53}{space 3}0.320{col 61}{space 4}-.4149397{col 74}{space 3} .1363667
{txt}{space 13}female {c |}{col 21}{res}{space 2} 1.093361{col 33}{space 2} .7941597{col 44}{space 1}    1.38{col 53}{space 3}0.170{col 61}{space 4}-.4737589{col 74}{space 3}  2.66048
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.5521378{col 33}{space 2} .4482423{col 44}{space 1}   -1.23{col 53}{space 3}0.220{col 61}{space 4}-1.436657{col 74}{space 3} .3323811
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 54.77039{col 33}{space 2} 1.388878{col 44}{space 1}   39.43{col 53}{space 3}0.000{col 61}{space 4}  52.0297{col 74}{space 3} 57.51107
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.5334288{col 26}{space 2} 1.556893{col 37}{space 1}   -0.34{col 46}{space 3}0.732{col 54}{space 4}-3.605655{col 67}{space 3} 2.538797
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.53342879

{txt}added scalar:
               e(sd32) =  {res}1.5568934

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -8.90172{col 26}{space 2} 1.485099{col 37}{space 1}   -5.99{col 46}{space 3}0.000{col 54}{space 4}-11.83227{col 67}{space 3}-5.971165
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-8.9017197

{txt}added scalar:
               e(sd42) =  {res}1.4850993

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.592679{col 26}{space 2} 1.473857{col 37}{space 1}   -5.15{col 46}{space 3}0.000{col 54}{space 4}-10.50105{col 67}{space 3}-4.684309
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-7.5926791

{txt}added scalar:
               e(sd52) =  {res}1.4738568

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2.786096{col 26}{space 2} 1.595949{col 37}{space 1}    1.75{col 46}{space 3}0.083{col 54}{space 4}-.3632002{col 67}{space 3} 5.935391
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}2.7860956

{txt}added scalar:
               e(sd62) =  {res}1.5959494

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-8.368291{col 26}{space 2} 1.329132{col 37}{space 1}   -6.30{col 46}{space 3}0.000{col 54}{space 4}-10.99108{col 67}{space 3}-5.745507
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-8.368291

{txt}added scalar:
               e(sd43) =  {res}1.3291324

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -7.05925{col 26}{space 2} 1.302895{col 37}{space 1}   -5.42{col 46}{space 3}0.000{col 54}{space 4}-9.630261{col 67}{space 3} -4.48824
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-7.0592503

{txt}added scalar:
               e(sd53) =  {res}1.3028954

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3.319524{col 26}{space 2} 1.417759{col 37}{space 1}    2.34{col 46}{space 3}0.020{col 54}{space 4}  .521852{col 67}{space 3} 6.117197
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}3.3195243

{txt}added scalar:
               e(sd63) =  {res}1.4177594

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.309041{col 26}{space 2} 1.191431{col 37}{space 1}    1.10{col 46}{space 3}0.273{col 54}{space 4}-1.042017{col 67}{space 3} 3.660098
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}1.3090407

{txt}added scalar:
               e(sd54) =  {res}1.1914312

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 11.68782{col 26}{space 2} 1.268664{col 37}{space 1}    9.21{col 46}{space 3}0.000{col 54}{space 4} 9.184353{col 67}{space 3} 14.19128
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}11.687815

{txt}added scalar:
               e(sd64) =  {res}1.2686642

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 10.37877{col 26}{space 2} 1.315998{col 37}{space 1}    7.89{col 46}{space 3}0.000{col 54}{space 4}  7.78191{col 67}{space 3} 12.97564
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}10.378775

{txt}added scalar:
               e(sd65) =  {res}1.3159975

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con1 {c |}{res}          1     60.0798           .    60.0798    60.0798

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con1 {c |}{res}          1     60.5512           .    60.5512    60.5512

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con1 {c |}{res}          1      60.022           .     60.022     60.022

{txt}added scalar:
             e(mean21) =  {res}.47140121

{txt}added scalar:
             e(mean31) =  {res}-.05780029

{txt}added scalar:
             e(mean32) =  {res}-.52920151

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    19.55
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4017
                                                {txt}Root MSE          =    {res} 10.617

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}               con6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 16.51782{col 33}{space 2} 2.383644{col 44}{space 1}    6.93{col 53}{space 3}0.000{col 61}{space 4} 11.81416{col 74}{space 3} 21.22147
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 17.50186{col 33}{space 2} 2.077074{col 44}{space 1}    8.43{col 53}{space 3}0.000{col 61}{space 4} 13.40315{col 74}{space 3} 21.60056
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.0392079{col 33}{space 2} 2.177319{col 44}{space 1}   -0.02{col 53}{space 3}0.986{col 61}{space 4}-4.335724{col 74}{space 3} 4.257308
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-2.535099{col 33}{space 2} 2.199986{col 44}{space 1}   -1.15{col 53}{space 3}0.251{col 61}{space 4}-6.876344{col 74}{space 3} 1.806146
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 14.19673{col 33}{space 2} 2.067841{col 44}{space 1}    6.87{col 53}{space 3}0.000{col 61}{space 4} 10.11625{col 74}{space 3} 18.27721
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.2902613{col 33}{space 2} .5710444{col 44}{space 1}   -0.51{col 53}{space 3}0.612{col 61}{space 4}-1.417106{col 74}{space 3} .8365838
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .3768374{col 33}{space 2} .7588493{col 44}{space 1}    0.50{col 53}{space 3}0.620{col 61}{space 4}-1.120604{col 74}{space 3} 1.874279
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.1421662{col 33}{space 2} .2270658{col 44}{space 1}   -0.63{col 53}{space 3}0.532{col 61}{space 4}-.5902362{col 74}{space 3} .3059039
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.4368875{col 33}{space 2}  1.37007{col 44}{space 1}   -0.32{col 53}{space 3}0.750{col 61}{space 4}-3.140454{col 74}{space 3} 2.266679
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.5421725{col 33}{space 2} .9116626{col 44}{space 1}   -0.59{col 53}{space 3}0.553{col 61}{space 4}-2.341161{col 74}{space 3} 1.256816
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 66.55805{col 33}{space 2} 2.848154{col 44}{space 1}   23.37{col 53}{space 3}0.000{col 61}{space 4} 60.93777{col 74}{space 3} 72.17833
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .9840412{col 26}{space 2} 2.411355{col 37}{space 1}    0.41{col 46}{space 3}0.684{col 54}{space 4}-3.774299{col 67}{space 3} 5.742381
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.98404123

{txt}added scalar:
               e(sd32) =  {res}2.411355

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-16.55702{col 26}{space 2} 2.505693{col 37}{space 1}   -6.61{col 46}{space 3}0.000{col 54}{space 4}-21.50152{col 67}{space 3}-11.61252
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-16.557023

{txt}added scalar:
               e(sd42) =  {res}2.5056933

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-19.05291{col 26}{space 2} 2.559885{col 37}{space 1}   -7.44{col 46}{space 3}0.000{col 54}{space 4}-24.10435{col 67}{space 3}-14.00148
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-19.052914

{txt}added scalar:
               e(sd52) =  {res}2.5598847

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.321082{col 26}{space 2} 2.383484{col 37}{space 1}   -0.97{col 46}{space 3}0.331{col 54}{space 4}-7.024424{col 67}{space 3}  2.38226
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-2.3210823

{txt}added scalar:
               e(sd62) =  {res}2.383484

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-17.54106{col 26}{space 2} 2.226229{col 37}{space 1}   -7.88{col 46}{space 3}0.000{col 54}{space 4}-21.93409{col 67}{space 3}-13.14803
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-17.541064

{txt}added scalar:
               e(sd43) =  {res}2.2262292

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-20.03696{col 26}{space 2} 2.282588{col 37}{space 1}   -8.78{col 46}{space 3}0.000{col 54}{space 4} -24.5412{col 67}{space 3}-15.53271
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-20.036955

{txt}added scalar:
               e(sd53) =  {res}2.2825882

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.305123{col 26}{space 2} 2.108254{col 37}{space 1}   -1.57{col 46}{space 3}0.119{col 54}{space 4}-7.465352{col 67}{space 3} .8551053
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-3.3051235

{txt}added scalar:
               e(sd63) =  {res}2.1082538

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.495891{col 26}{space 2} 2.293067{col 37}{space 1}   -1.09{col 46}{space 3}0.278{col 54}{space 4}-7.020813{col 67}{space 3} 2.029031
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-2.495891

{txt}added scalar:
               e(sd54) =  {res}2.2930672

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 14.23594{col 26}{space 2}  2.07956{col 37}{space 1}    6.85{col 46}{space 3}0.000{col 54}{space 4} 10.13233{col 67}{space 3} 18.33955
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}14.235941

{txt}added scalar:
               e(sd64) =  {res}2.0795596

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        con6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 16.73183{col 26}{space 2} 2.164871{col 37}{space 1}    7.73{col 46}{space 3}0.000{col 54}{space 4} 12.45988{col 67}{space 3} 21.00378
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}16.731832

{txt}added scalar:
               e(sd65) =  {res}2.1648714

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con6 {c |}{res}          1      69.611           .     69.611     69.611

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con6 {c |}{res}          1     68.1536           .    68.1536    68.1536

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 8}con6 {c |}{res}          1     68.9312           .    68.9312    68.9312

{txt}added scalar:
             e(mean21) =  {res}-1.4573975

{txt}added scalar:
             e(mean31) =  {res}-.67980194

{txt}added scalar:
             e(mean32) =  {res}.77759552

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    20.16
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3762
                                                {txt}Root MSE          =    {res} 12.755

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 14.42492{col 33}{space 2} 2.826076{col 44}{space 1}    5.10{col 53}{space 3}0.000{col 61}{space 4} 8.848208{col 74}{space 3} 20.00163
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 19.67993{col 33}{space 2} 2.940152{col 44}{space 1}    6.69{col 53}{space 3}0.000{col 61}{space 4} 13.87811{col 74}{space 3} 25.48174
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-4.470465{col 33}{space 2} 3.110592{col 44}{space 1}   -1.44{col 53}{space 3}0.152{col 61}{space 4}-10.60861{col 74}{space 3} 1.667684
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-7.025825{col 33}{space 2} 2.961634{col 44}{space 1}   -2.37{col 53}{space 3}0.019{col 61}{space 4}-12.87003{col 74}{space 3}-1.181617
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 9.884019{col 33}{space 2} 2.784786{col 44}{space 1}    3.55{col 53}{space 3}0.000{col 61}{space 4} 4.388787{col 74}{space 3} 15.37925
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .2615984{col 33}{space 2} .6381941{col 44}{space 1}    0.41{col 53}{space 3}0.682{col 61}{space 4}-.9977536{col 74}{space 3}  1.52095
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .3409492{col 33}{space 2} .8808162{col 44}{space 1}    0.39{col 53}{space 3}0.699{col 61}{space 4} -1.39717{col 74}{space 3} 2.079069
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.2706656{col 33}{space 2} .2818743{col 44}{space 1}   -0.96{col 53}{space 3}0.338{col 61}{space 4}-.8268897{col 74}{space 3} .2855585
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0712849{col 33}{space 2} 1.552699{col 44}{space 1}    0.05{col 53}{space 3}0.963{col 61}{space 4}-2.992665{col 74}{space 3} 3.135235
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-1.195463{col 33}{space 2} 1.135224{col 44}{space 1}   -1.05{col 53}{space 3}0.294{col 61}{space 4}-3.435607{col 74}{space 3}  1.04468
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 67.45408{col 33}{space 2} 3.864331{col 44}{space 1}   17.46{col 53}{space 3}0.000{col 61}{space 4} 59.82857{col 74}{space 3} 75.07958
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 5.255006{col 26}{space 2} 2.607407{col 37}{space 1}    2.02{col 46}{space 3}0.045{col 54}{space 4} .1097958{col 67}{space 3} 10.40022
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}5.2550056

{txt}added scalar:
               e(sd32) =  {res}2.6074067

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-18.89538{col 26}{space 2} 2.776653{col 37}{space 1}   -6.81{col 46}{space 3}0.000{col 54}{space 4}-24.37457{col 67}{space 3} -13.4162
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-18.895385

{txt}added scalar:
               e(sd42) =  {res}2.7766526

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-21.45075{col 26}{space 2} 2.618963{col 37}{space 1}   -8.19{col 46}{space 3}0.000{col 54}{space 4}-26.61876{col 67}{space 3}-16.28273
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-21.450745

{txt}added scalar:
               e(sd52) =  {res}2.6189632

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4.540901{col 26}{space 2} 2.348973{col 37}{space 1}   -1.93{col 46}{space 3}0.055{col 54}{space 4}-9.176143{col 67}{space 3} .0943416
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-4.5409005

{txt}added scalar:
               e(sd62) =  {res}2.3489735

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-24.15039{col 26}{space 2} 2.912293{col 37}{space 1}   -8.29{col 46}{space 3}0.000{col 54}{space 4}-29.89723{col 67}{space 3}-18.40355
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-24.15039

{txt}added scalar:
               e(sd43) =  {res}2.9122932

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-26.70575{col 26}{space 2} 2.800492{col 37}{space 1}   -9.54{col 46}{space 3}0.000{col 54}{space 4}-32.23198{col 67}{space 3}-21.17952
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-26.705751

{txt}added scalar:
               e(sd53) =  {res}2.8004924

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.795906{col 26}{space 2} 2.523211{col 37}{space 1}   -3.88{col 46}{space 3}0.000{col 54}{space 4}-14.77497{col 67}{space 3} -4.81684
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-9.7959061

{txt}added scalar:
               e(sd63) =  {res}2.5232108

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -2.55536{col 26}{space 2} 2.754522{col 37}{space 1}   -0.93{col 46}{space 3}0.355{col 54}{space 4}-7.990873{col 67}{space 3} 2.880152
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-2.5553605

{txt}added scalar:
               e(sd54) =  {res}2.7545217

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 14.35448{col 26}{space 2}  2.44692{col 37}{space 1}    5.87{col 46}{space 3}0.000{col 54}{space 4} 9.525964{col 67}{space 3}   19.183
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}14.354484

{txt}added scalar:
               e(sd64) =  {res}2.4469196

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 16.90984{col 26}{space 2} 2.207198{col 37}{space 1}    7.66{col 46}{space 3}0.000{col 54}{space 4} 12.55437{col 67}{space 3} 21.26532
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}16.909845

{txt}added scalar:
               e(sd65) =  {res}2.2071978

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con11 {c |}{res}          1     78.8536           .    78.8536    78.8536

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con11 {c |}{res}          1     75.3854           .    75.3854    75.3854

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con11 {c |}{res}          1     77.8402           .    77.8402    77.8402

{txt}added scalar:
             e(mean21) =  {res}-3.4682007

{txt}added scalar:
             e(mean31) =  {res}-1.0133972

{txt}added scalar:
             e(mean32) =  {res}2.4548035

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    19.05
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3939
                                                {txt}Root MSE          =    {res} 40.168

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con16{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-59.56587{col 33}{space 2} 6.526384{col 44}{space 1}   -9.13{col 53}{space 3}0.000{col 61}{space 4}-72.44442{col 74}{space 3}-46.68732
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} -57.8744{col 33}{space 2} 6.780143{col 44}{space 1}   -8.54{col 53}{space 3}0.000{col 61}{space 4}-71.25369{col 74}{space 3}-44.49511
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} 8.441114{col 33}{space 2} 11.60469{col 44}{space 1}    0.73{col 53}{space 3}0.468{col 61}{space 4}-14.45848{col 74}{space 3}  31.3407
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} 16.20981{col 33}{space 2} 10.72804{col 44}{space 1}    1.51{col 53}{space 3}0.133{col 61}{space 4}-4.959885{col 74}{space 3}  37.3795
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-46.96242{col 33}{space 2} 8.029805{col 44}{space 1}   -5.85{col 53}{space 3}0.000{col 61}{space 4}-62.80768{col 74}{space 3}-31.11716
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-2.711426{col 33}{space 2} 2.249526{col 44}{space 1}   -1.21{col 53}{space 3}0.230{col 61}{space 4}-7.150427{col 74}{space 3} 1.727575
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .7060868{col 33}{space 2} 3.119895{col 44}{space 1}    0.23{col 53}{space 3}0.821{col 61}{space 4} -5.45042{col 74}{space 3} 6.862593
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .9729094{col 33}{space 2} .8442972{col 44}{space 1}    1.15{col 53}{space 3}0.251{col 61}{space 4}-.6931469{col 74}{space 3} 2.638966
{txt}{space 13}female {c |}{col 21}{res}{space 2} 4.615387{col 33}{space 2}  5.49077{col 44}{space 1}    0.84{col 53}{space 3}0.402{col 61}{space 4} -6.21958{col 74}{space 3} 15.45035
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} 8.690819{col 33}{space 2} 2.890359{col 44}{space 1}    3.01{col 53}{space 3}0.003{col 61}{space 4} 2.987257{col 74}{space 3} 14.39438
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 112.3975{col 33}{space 2} 11.51742{col 44}{space 1}    9.76{col 53}{space 3}0.000{col 61}{space 4} 89.67006{col 74}{space 3} 135.1249
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.691468{col 26}{space 2} 4.428039{col 37}{space 1}    0.38{col 46}{space 3}0.703{col 54}{space 4}-7.046406{col 67}{space 3} 10.42934
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.6914684

{txt}added scalar:
               e(sd32) =  {res}4.4280393

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 68.00698{col 26}{space 2} 10.42451{col 37}{space 1}    6.52{col 46}{space 3}0.000{col 54}{space 4} 47.43624{col 67}{space 3} 88.57772
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}68.006982

{txt}added scalar:
               e(sd42) =  {res}10.42451

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 75.77568{col 26}{space 2}  9.56303{col 37}{space 1}    7.92{col 46}{space 3}0.000{col 54}{space 4}  56.9049{col 67}{space 3} 94.64646
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}75.775678

{txt}added scalar:
               e(sd52) =  {res}9.56303

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 12.60345{col 26}{space 2} 6.025747{col 37}{space 1}    2.09{col 46}{space 3}0.038{col 54}{space 4} .7128119{col 67}{space 3} 24.49409
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}12.603451

{txt}added scalar:
               e(sd62) =  {res}6.0257471

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 66.31551{col 26}{space 2} 10.60814{col 37}{space 1}    6.25{col 46}{space 3}0.000{col 54}{space 4} 45.38241{col 67}{space 3} 87.24861
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}66.315514

{txt}added scalar:
               e(sd43) =  {res}10.608139

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 74.08421{col 26}{space 2} 9.759203{col 37}{space 1}    7.59{col 46}{space 3}0.000{col 54}{space 4} 54.82632{col 67}{space 3}  93.3421
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}74.08421

{txt}added scalar:
               e(sd53) =  {res}9.7592035

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 10.91198{col 26}{space 2} 5.986781{col 37}{space 1}    1.82{col 46}{space 3}0.070{col 54}{space 4}-.9017634{col 67}{space 3} 22.72573
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}10.911983

{txt}added scalar:
               e(sd63) =  {res}5.9867805

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 7.768696{col 26}{space 2} 13.07339{col 37}{space 1}    0.59{col 46}{space 3}0.553{col 54}{space 4} -18.0291{col 67}{space 3}  33.5665
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}7.768696

{txt}added scalar:
               e(sd54) =  {res}13.073395

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-55.40353{col 26}{space 2} 10.61175{col 37}{space 1}   -5.22{col 46}{space 3}0.000{col 54}{space 4}-76.34375{col 67}{space 3}-34.46331
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-55.403531

{txt}added scalar:
               e(sd64) =  {res}10.611748

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-63.17223{col 26}{space 2} 9.880998{col 37}{space 1}   -6.39{col 46}{space 3}0.000{col 54}{space 4}-82.67045{col 67}{space 3}  -43.674
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-63.172227

{txt}added scalar:
               e(sd65) =  {res}9.8809981

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con16 {c |}{res}          1      84.388           .     84.388     84.388

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con16 {c |}{res}          1     78.9586           .    78.9586    78.9586

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con16 {c |}{res}          1     82.5348           .    82.5348    82.5348

{txt}added scalar:
             e(mean21) =  {res}-5.4293976

{txt}added scalar:
             e(mean31) =  {res}-1.8532028

{txt}added scalar:
             e(mean32) =  {res}3.5761948

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    10.56
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2469
                                                {txt}Root MSE          =    {res} 31.414

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con21{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-36.82204{col 33}{space 2} 5.896619{col 44}{space 1}   -6.24{col 53}{space 3}0.000{col 61}{space 4}-48.45787{col 74}{space 3}-25.18621
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-35.33197{col 33}{space 2} 5.868315{col 44}{space 1}   -6.02{col 53}{space 3}0.000{col 61}{space 4}-46.91195{col 74}{space 3}  -23.752
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-21.78293{col 33}{space 2} 7.688231{col 44}{space 1}   -2.83{col 53}{space 3}0.005{col 61}{space 4}-36.95416{col 74}{space 3}-6.611704
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-17.74023{col 33}{space 2} 8.458598{col 44}{space 1}   -2.10{col 53}{space 3}0.037{col 61}{space 4}-34.43162{col 74}{space 3}-1.048829
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-44.61187{col 33}{space 2} 6.017686{col 44}{space 1}   -7.41{col 53}{space 3}0.000{col 61}{space 4} -56.4866{col 74}{space 3}-32.73714
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 6.719409{col 33}{space 2} 1.713872{col 44}{space 1}    3.92{col 53}{space 3}0.000{col 61}{space 4} 3.337415{col 74}{space 3}  10.1014
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-4.440669{col 33}{space 2} 3.184709{col 44}{space 1}   -1.39{col 53}{space 3}0.165{col 61}{space 4}-10.72507{col 74}{space 3} 1.843734
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} 1.246855{col 33}{space 2} .6205941{col 44}{space 1}    2.01{col 53}{space 3}0.046{col 61}{space 4} .0222331{col 74}{space 3} 2.471477
{txt}{space 13}female {c |}{col 21}{res}{space 2}-3.268072{col 33}{space 2} 3.809209{col 44}{space 1}   -0.86{col 53}{space 3}0.392{col 61}{space 4} -10.7848{col 74}{space 3} 4.248661
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-3.420958{col 33}{space 2} 2.646426{col 44}{space 1}   -1.29{col 53}{space 3}0.198{col 61}{space 4}-8.643164{col 74}{space 3} 1.801248
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 85.44492{col 33}{space 2} 8.118968{col 44}{space 1}   10.52{col 53}{space 3}0.000{col 61}{space 4} 69.42372{col 74}{space 3} 101.4661
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.490067{col 26}{space 2} 4.191963{col 37}{space 1}    0.36{col 46}{space 3}0.723{col 54}{space 4}-6.781956{col 67}{space 3} 9.762091
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.4900672

{txt}added scalar:
               e(sd32) =  {res}4.191963

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 15.03911{col 26}{space 2} 6.597879{col 37}{space 1}    2.28{col 46}{space 3}0.024{col 54}{space 4} 2.019478{col 67}{space 3} 28.05874
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}15.039108

{txt}added scalar:
               e(sd42) =  {res}6.5978786

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 19.08181{col 26}{space 2} 7.159423{col 37}{space 1}    2.67{col 46}{space 3}0.008{col 54}{space 4} 4.954086{col 67}{space 3} 33.20954
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}19.081815

{txt}added scalar:
               e(sd52) =  {res}7.1594231

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.789829{col 26}{space 2} 5.134512{col 37}{space 1}   -1.52{col 46}{space 3}0.131{col 54}{space 4}-17.92179{col 67}{space 3} 2.342131
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-7.7898293

{txt}added scalar:
               e(sd62) =  {res}5.1345118

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 13.54904{col 26}{space 2}  6.40157{col 37}{space 1}    2.12{col 46}{space 3}0.036{col 54}{space 4} .9167889{col 67}{space 3} 26.18129
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}13.549041

{txt}added scalar:
               e(sd43) =  {res}6.4015695

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 17.59175{col 26}{space 2} 6.978279{col 37}{space 1}    2.52{col 46}{space 3}0.013{col 54}{space 4} 3.821471{col 67}{space 3} 31.36202
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}17.591747

{txt}added scalar:
               e(sd53) =  {res}6.9782792

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.279896{col 26}{space 2} 5.023053{col 37}{space 1}   -1.85{col 46}{space 3}0.066{col 54}{space 4}-19.19191{col 67}{space 3} .6321207
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-9.2798965

{txt}added scalar:
               e(sd63) =  {res}5.0230527

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 4.042706{col 26}{space 2} 9.187197{col 37}{space 1}    0.44{col 46}{space 3}0.660{col 54}{space 4}-14.08644{col 67}{space 3} 22.17185
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}4.0427064

{txt}added scalar:
               e(sd54) =  {res}9.1871974

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-22.82894{col 26}{space 2} 6.891361{col 37}{space 1}   -3.31{col 46}{space 3}0.001{col 54}{space 4} -36.4277{col 67}{space 3}-9.230177
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-22.828937

{txt}added scalar:
               e(sd64) =  {res}6.891361

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-26.87164{col 26}{space 2} 8.044632{col 37}{space 1}   -3.34{col 46}{space 3}0.001{col 54}{space 4}-42.74616{col 67}{space 3}-10.99713
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-26.871644

{txt}added scalar:
               e(sd65) =  {res}8.0446319

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con21 {c |}{res}          1     83.3998           .    83.3998    83.3998

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con21 {c |}{res}          1     76.5808           .    76.5808    76.5808

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con21 {c |}{res}          1      80.908           .     80.908     80.908

{txt}added scalar:
             e(mean21) =  {res}-6.8190002

{txt}added scalar:
             e(mean31) =  {res}-2.491806

{txt}added scalar:
             e(mean32) =  {res}4.3271942

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    21.70
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3107
                                                {txt}Root MSE          =    {res} 7.1995

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con25{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-11.22291{col 33}{space 2}  1.06253{col 44}{space 1}  -10.56{col 53}{space 3}0.000{col 61}{space 4}-13.31961{col 74}{space 3}-9.126217
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-9.445483{col 33}{space 2} 1.133457{col 44}{space 1}   -8.33{col 53}{space 3}0.000{col 61}{space 4}-11.68214{col 74}{space 3}-7.208825
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-3.484521{col 33}{space 2}  2.00795{col 44}{space 1}   -1.74{col 53}{space 3}0.084{col 61}{space 4} -7.44682{col 74}{space 3} .4777775
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-1.870682{col 33}{space 2} 1.552892{col 44}{space 1}   -1.20{col 53}{space 3}0.230{col 61}{space 4}-4.935012{col 74}{space 3} 1.193648
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-11.07537{col 33}{space 2} 1.173257{col 44}{space 1}   -9.44{col 53}{space 3}0.000{col 61}{space 4}-13.39056{col 74}{space 3}-8.760172
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .7696969{col 33}{space 2} .4201185{col 44}{space 1}    1.83{col 53}{space 3}0.069{col 61}{space 4}-.0593252{col 74}{space 3} 1.598719
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.5894383{col 33}{space 2} .5441114{col 44}{space 1}   -1.08{col 53}{space 3}0.280{col 61}{space 4}-1.663136{col 74}{space 3} .4842596
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .3335292{col 33}{space 2} .1340537{col 44}{space 1}    2.49{col 53}{space 3}0.014{col 61}{space 4} .0690003{col 74}{space 3} .5980581
{txt}{space 13}female {c |}{col 21}{res}{space 2} .4150146{col 33}{space 2} .8676178{col 44}{space 1}    0.48{col 53}{space 3}0.633{col 61}{space 4} -1.29706{col 74}{space 3}  2.12709
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .5960174{col 33}{space 2} .5963415{col 44}{space 1}    1.00{col 53}{space 3}0.319{col 61}{space 4}-.5807465{col 74}{space 3} 1.772781
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 77.32498{col 33}{space 2} 1.779032{col 44}{space 1}   43.46{col 53}{space 3}0.000{col 61}{space 4}  73.8144{col 74}{space 3} 80.83555
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.777431{col 26}{space 2} .9034089{col 37}{space 1}    1.97{col 46}{space 3}0.051{col 54}{space 4}-.0052708{col 67}{space 3} 3.560133
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.777431

{txt}added scalar:
               e(sd32) =  {res}.90340893

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 7.738393{col 26}{space 2} 1.843407{col 37}{space 1}    4.20{col 46}{space 3}0.000{col 54}{space 4} 4.100788{col 67}{space 3}   11.376
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}7.7383926

{txt}added scalar:
               e(sd42) =  {res}1.8434069

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 9.352231{col 26}{space 2} 1.382754{col 37}{space 1}    6.76{col 46}{space 3}0.000{col 54}{space 4} 6.623636{col 67}{space 3} 12.08083
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}9.3522315

{txt}added scalar:
               e(sd52) =  {res}1.3827537

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1475469{col 26}{space 2} 1.069759{col 37}{space 1}    0.14{col 46}{space 3}0.890{col 54}{space 4}-1.963414{col 67}{space 3} 2.258508
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.14754689

{txt}added scalar:
               e(sd62) =  {res}1.0697591

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 5.960962{col 26}{space 2} 1.919779{col 37}{space 1}    3.11{col 46}{space 3}0.002{col 54}{space 4}  2.17265{col 67}{space 3} 9.749273
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}5.9609616

{txt}added scalar:
               e(sd43) =  {res}1.9197795

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}   7.5748{col 26}{space 2} 1.494134{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} 4.626418{col 67}{space 3} 10.52318
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}7.5748005

{txt}added scalar:
               e(sd53) =  {res}1.494134

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.629884{col 26}{space 2} 1.136495{col 37}{space 1}   -1.43{col 46}{space 3}0.153{col 54}{space 4}-3.872535{col 67}{space 3} .6127672
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-1.6298841

{txt}added scalar:
               e(sd63) =  {res}1.1364948

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.613839{col 26}{space 2} 2.251764{col 37}{space 1}    0.72{col 46}{space 3}0.474{col 54}{space 4} -2.82958{col 67}{space 3} 6.057257
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}1.6138389

{txt}added scalar:
               e(sd54) =  {res}2.2517642

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.590846{col 26}{space 2} 2.042773{col 37}{space 1}   -3.72{col 46}{space 3}0.000{col 54}{space 4}-11.62186{col 67}{space 3} -3.55983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-7.5908457

{txt}added scalar:
               e(sd64) =  {res}2.0427734

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.204685{col 26}{space 2}  1.54817{col 37}{space 1}   -5.95{col 46}{space 3}0.000{col 54}{space 4} -12.2597{col 67}{space 3}-6.149672
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-9.2046846

{txt}added scalar:
               e(sd65) =  {res}1.54817

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con25 {c |}{res}          1    75.26644           .   75.26644   75.26644

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con25 {c |}{res}          1    71.92592           .   71.92592   71.92592

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con25 {c |}{res}          1    74.04724           .   74.04724   74.04724

{txt}added scalar:
             e(mean21) =  {res}-3.3405228

{txt}added scalar:
             e(mean31) =  {res}-1.2192001

{txt}added scalar:
             e(mean32) =  {res}2.1213226

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     3.42
                                                {txt}Prob > F          = {res}    0.0006
                                                {txt}R-squared         = {res}    0.1345
                                                {txt}Root MSE          =    {res} 19.615

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con26{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-11.85841{col 33}{space 2}  7.07617{col 44}{space 1}   -1.68{col 53}{space 3}0.096{col 61}{space 4}-25.86525{col 74}{space 3} 2.148435
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-13.35235{col 33}{space 2} 7.480102{col 44}{space 1}   -1.79{col 53}{space 3}0.077{col 61}{space 4}-28.15875{col 74}{space 3} 1.454055
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-14.15491{col 33}{space 2} 6.658663{col 44}{space 1}   -2.13{col 53}{space 3}0.036{col 61}{space 4}-27.33533{col 74}{space 3} -.974499
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-10.06598{col 33}{space 2} 7.828798{col 44}{space 1}   -1.29{col 53}{space 3}0.201{col 61}{space 4}-25.56261{col 74}{space 3} 5.430645
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-19.83546{col 33}{space 2} 6.194268{col 44}{space 1}   -3.20{col 53}{space 3}0.002{col 61}{space 4}-32.09664{col 74}{space 3}-7.574288
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 2.671176{col 33}{space 2} 1.424126{col 44}{space 1}    1.88{col 53}{space 3}0.063{col 61}{space 4}-.1477943{col 74}{space 3} 5.490147
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} 1.349208{col 33}{space 2} 1.246011{col 44}{space 1}    1.08{col 53}{space 3}0.281{col 61}{space 4}-1.117194{col 74}{space 3}  3.81561
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.3207107{col 33}{space 2} .6825182{col 44}{space 1}   -0.47{col 53}{space 3}0.639{col 61}{space 4}-1.671714{col 74}{space 3} 1.030292
{txt}{space 13}female {c |}{col 21}{res}{space 2}-4.314536{col 33}{space 2} 3.496641{col 44}{space 1}   -1.23{col 53}{space 3}0.220{col 61}{space 4}-11.23592{col 74}{space 3} 2.606851
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.6583065{col 33}{space 2} 2.929498{col 44}{space 1}   -0.22{col 53}{space 3}0.823{col 61}{space 4}-6.457068{col 74}{space 3} 5.140455
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 64.10116{col 33}{space 2} 7.385628{col 44}{space 1}    8.68{col 53}{space 3}0.000{col 61}{space 4} 49.48176{col 74}{space 3} 78.72056
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.493938{col 26}{space 2} 5.383316{col 37}{space 1}   -0.28{col 46}{space 3}0.782{col 54}{space 4}-12.14988{col 67}{space 3} 9.162007
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-1.4939381

{txt}added scalar:
               e(sd32) =  {res}5.3833164

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.296504{col 26}{space 2} 4.758619{col 37}{space 1}   -0.48{col 46}{space 3}0.630{col 54}{space 4} -11.7159{col 67}{space 3} 7.122891
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-2.2965038

{txt}added scalar:
               e(sd42) =  {res}4.7586191

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.792429{col 26}{space 2} 5.307487{col 37}{space 1}    0.34{col 46}{space 3}0.736{col 54}{space 4}-8.713417{col 67}{space 3} 12.29827
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}1.7924286

{txt}added scalar:
               e(sd52) =  {res}5.3074871

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.977053{col 26}{space 2} 4.130875{col 37}{space 1}   -1.93{col 46}{space 3}0.056{col 54}{space 4}-16.15387{col 67}{space 3} .1997608
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-7.9770529

{txt}added scalar:
               e(sd62) =  {res}4.130875

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.8025657{col 26}{space 2}  5.40725{col 37}{space 1}   -0.15{col 46}{space 3}0.882{col 54}{space 4}-11.50589{col 67}{space 3} 9.900755
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-.80256571

{txt}added scalar:
               e(sd43) =  {res}5.4072504

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3.286367{col 26}{space 2} 5.886449{col 37}{space 1}    0.56{col 46}{space 3}0.578{col 54}{space 4}-8.365498{col 67}{space 3} 14.93823
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}3.2863667

{txt}added scalar:
               e(sd53) =  {res}5.8864488

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-6.483115{col 26}{space 2} 4.918739{col 37}{space 1}   -1.32{col 46}{space 3}0.190{col 54}{space 4}-16.21946{col 67}{space 3} 3.253228
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-6.4831148

{txt}added scalar:
               e(sd63) =  {res}4.9187391

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 4.088932{col 26}{space 2} 5.303425{col 37}{space 1}    0.77{col 46}{space 3}0.442{col 54}{space 4}-6.408871{col 67}{space 3} 14.58674
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}4.0889324

{txt}added scalar:
               e(sd54) =  {res}5.3034246

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-5.680549{col 26}{space 2} 3.423355{col 37}{space 1}   -1.66{col 46}{space 3}0.100{col 54}{space 4}-12.45687{col 67}{space 3} 1.095772
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-5.6805491

{txt}added scalar:
               e(sd64) =  {res}3.4233548

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.769481{col 26}{space 2} 4.665772{col 37}{space 1}   -2.09{col 46}{space 3}0.038{col 54}{space 4}-19.00509{col 67}{space 3}-.5338717
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-9.7694815

{txt}added scalar:
               e(sd65) =  {res}4.6657721

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con26 {c |}{res}          1     82.3904           .    82.3904    82.3904

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con26 {c |}{res}          1     74.2028           .    74.2028    74.2028

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con26 {c |}{res}          1     79.2808           .    79.2808    79.2808

{txt}added scalar:
             e(mean21) =  {res}-8.1876068

{txt}added scalar:
             e(mean31) =  {res}-3.1096039

{txt}added scalar:
             e(mean32) =  {res}5.0780029

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     1.91
                                                {txt}Prob > F          = {res}    0.0492
                                                {txt}R-squared         = {res}    0.1248
                                                {txt}Root MSE          =    {res} 19.213

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con31{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-11.80939{col 33}{space 2} 8.698378{col 44}{space 1}   -1.36{col 53}{space 3}0.177{col 61}{space 4} -29.0273{col 74}{space 3} 5.408513
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-15.14175{col 33}{space 2} 8.543671{col 44}{space 1}   -1.77{col 53}{space 3}0.079{col 61}{space 4}-32.05342{col 74}{space 3} 1.769927
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-15.12628{col 33}{space 2} 8.448138{col 44}{space 1}   -1.79{col 53}{space 3}0.076{col 61}{space 4}-31.84886{col 74}{space 3} 1.596289
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-13.85019{col 33}{space 2} 8.932989{col 44}{space 1}   -1.55{col 53}{space 3}0.124{col 61}{space 4}-31.53249{col 74}{space 3} 3.832119
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} -17.8962{col 33}{space 2} 7.608596{col 44}{space 1}   -2.35{col 53}{space 3}0.020{col 61}{space 4}-32.95695{col 74}{space 3}-2.835455
{txt}{space 16}crt {c |}{col 21}{res}{space 2} 2.473969{col 33}{space 2} 1.256517{col 44}{space 1}    1.97{col 53}{space 3}0.051{col 61}{space 4}-.0132298{col 74}{space 3} 4.961168
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} 1.900001{col 33}{space 2} 1.117017{col 44}{space 1}    1.70{col 53}{space 3}0.091{col 61}{space 4}-.3110663{col 74}{space 3} 4.111069
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.0754383{col 33}{space 2} .6445431{col 44}{space 1}   -0.12{col 53}{space 3}0.907{col 61}{space 4}-1.351272{col 74}{space 3} 1.200395
{txt}{space 13}female {c |}{col 21}{res}{space 2}-3.658156{col 33}{space 2} 3.583612{col 44}{space 1}   -1.02{col 53}{space 3}0.309{col 61}{space 4} -10.7517{col 74}{space 3} 3.435384
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .4216368{col 33}{space 2} 2.841627{col 44}{space 1}    0.15{col 53}{space 3}0.882{col 61}{space 4} -5.20319{col 74}{space 3} 6.046464
{txt}{space 14}_cons {c |}{col 21}{res}{space 2}  59.6046{col 33}{space 2} 7.838904{col 44}{space 1}    7.60{col 53}{space 3}0.000{col 61}{space 4} 44.08797{col 74}{space 3} 75.12123
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.332353{col 26}{space 2} 4.347308{col 37}{space 1}   -0.77{col 46}{space 3}0.445{col 54}{space 4}-11.93758{col 67}{space 3} 5.272876
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-3.3323527

{txt}added scalar:
               e(sd32) =  {res}4.3473077

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.316891{col 26}{space 2} 4.731758{col 37}{space 1}   -0.70{col 46}{space 3}0.485{col 54}{space 4}-12.68312{col 67}{space 3} 6.049334
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-3.3168908

{txt}added scalar:
               e(sd42) =  {res}4.731758

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.040793{col 26}{space 2} 4.803326{col 37}{space 1}   -0.42{col 46}{space 3}0.672{col 54}{space 4}-11.54868{col 67}{space 3} 7.467097
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-2.0407926

{txt}added scalar:
               e(sd52) =  {res}4.803326

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-6.086812{col 26}{space 2} 3.987202{col 37}{space 1}   -1.53{col 46}{space 3}0.129{col 54}{space 4}-13.97923{col 67}{space 3} 1.805611
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-6.0868115

{txt}added scalar:
               e(sd62) =  {res}3.9872022

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0154619{col 26}{space 2} 4.330402{col 37}{space 1}    0.00{col 46}{space 3}0.997{col 54}{space 4}-8.556304{col 67}{space 3} 8.587228
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.01546187

{txt}added scalar:
               e(sd43) =  {res}4.3304024

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  1.29156{col 26}{space 2} 4.456859{col 37}{space 1}    0.29{col 46}{space 3}0.772{col 54}{space 4}-7.530519{col 67}{space 3} 10.11364
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}1.29156

{txt}added scalar:
               e(sd53) =  {res}4.4568592

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.754459{col 26}{space 2}  3.58675{col 37}{space 1}   -0.77{col 46}{space 3}0.444{col 54}{space 4}-9.854211{col 67}{space 3} 4.345293
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-2.7544589

{txt}added scalar:
               e(sd63) =  {res}3.5867502

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.276098{col 26}{space 2} 4.773448{col 37}{space 1}    0.27{col 46}{space 3}0.790{col 54}{space 4} -8.17265{col 67}{space 3} 10.72485
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}1.2760982

{txt}added scalar:
               e(sd54) =  {res}4.7734485

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.769921{col 26}{space 2} 3.531254{col 37}{space 1}   -0.78{col 46}{space 3}0.434{col 54}{space 4}-9.759822{col 67}{space 3} 4.219981
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-2.7699208

{txt}added scalar:
               e(sd64) =  {res}3.5312544

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-4.046019{col 26}{space 2} 3.761501{col 37}{space 1}   -1.08{col 46}{space 3}0.284{col 54}{space 4}-11.49168{col 67}{space 3} 3.399641
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-4.0460189

{txt}added scalar:
               e(sd65) =  {res}3.7615008

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con31 {c |}{res}          1     81.3874           .    81.3874    81.3874

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con31 {c |}{res}          1     71.8246           .    71.8246    71.8246

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con31 {c |}{res}          1     77.6542           .    77.6542    77.6542

{txt}added scalar:
             e(mean21) =  {res}-9.5627975

{txt}added scalar:
             e(mean31) =  {res}-3.7332001

{txt}added scalar:
             e(mean32) =  {res}5.8295975

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}    10.30
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3334
                                                {txt}Root MSE          =    {res} 6.8172

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}              con35{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-12.14347{col 33}{space 2} 2.198926{col 44}{space 1}   -5.52{col 53}{space 3}0.000{col 61}{space 4}-16.49611{col 74}{space 3}-7.790832
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} -10.7305{col 33}{space 2} 2.280877{col 44}{space 1}   -4.70{col 53}{space 3}0.000{col 61}{space 4}-15.24536{col 74}{space 3}-6.215643
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-6.838603{col 33}{space 2}  2.35357{col 44}{space 1}   -2.91{col 53}{space 3}0.004{col 61}{space 4}-11.49735{col 74}{space 3}-2.179857
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-5.622746{col 33}{space 2} 2.341107{col 44}{space 1}   -2.40{col 53}{space 3}0.018{col 61}{space 4}-10.25682{col 74}{space 3}-.9886685
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-14.74826{col 33}{space 2} 1.974183{col 44}{space 1}   -7.47{col 53}{space 3}0.000{col 61}{space 4}-18.65603{col 74}{space 3}-10.84049
{txt}{space 16}crt {c |}{col 21}{res}{space 2}  1.09862{col 33}{space 2} .5702909{col 44}{space 1}    1.93{col 53}{space 3}0.056{col 61}{space 4}-.0302362{col 74}{space 3} 2.227475
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2}-.0022273{col 33}{space 2} .6607813{col 44}{space 1}   -0.00{col 53}{space 3}0.997{col 61}{space 4}-1.310203{col 74}{space 3} 1.305749
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .2149956{col 33}{space 2} .2172799{col 44}{space 1}    0.99{col 53}{space 3}0.324{col 61}{space 4}-.2150966{col 74}{space 3} .6450878
{txt}{space 13}female {c |}{col 21}{res}{space 2}-1.383439{col 33}{space 2} 1.284544{col 44}{space 1}   -1.08{col 53}{space 3}0.284{col 61}{space 4}-3.926114{col 74}{space 3} 1.159237
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .4435486{col 33}{space 2} .9600437{col 44}{space 1}    0.46{col 53}{space 3}0.645{col 61}{space 4}-1.456799{col 74}{space 3} 2.343896
{txt}{space 14}_cons {c |}{col 21}{res}{space 2}  74.3225{col 33}{space 2} 2.344784{col 44}{space 1}   31.70{col 53}{space 3}0.000{col 61}{space 4} 69.68114{col 74}{space 3} 78.96385
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.412971{col 26}{space 2} 1.851743{col 37}{space 1}    0.76{col 46}{space 3}0.447{col 54}{space 4}-2.252441{col 67}{space 3} 5.078382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.4129706

{txt}added scalar:
               e(sd32) =  {res}1.851743

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 5.304867{col 26}{space 2} 1.792189{col 37}{space 1}    2.96{col 46}{space 3}0.004{col 54}{space 4} 1.757338{col 67}{space 3} 8.852395
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}5.3048666

{txt}added scalar:
               e(sd42) =  {res}1.7921892

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 6.520724{col 26}{space 2} 1.869541{col 37}{space 1}    3.49{col 46}{space 3}0.001{col 54}{space 4} 2.820083{col 67}{space 3} 10.22137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}6.5207242

{txt}added scalar:
               e(sd52) =  {res}1.8695407

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -2.60479{col 26}{space 2} 1.630516{col 37}{space 1}   -1.60{col 46}{space 3}0.113{col 54}{space 4}-5.832296{col 67}{space 3} .6227161
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-2.6047899

{txt}added scalar:
               e(sd62) =  {res}1.6305158

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3.891896{col 26}{space 2} 1.990669{col 37}{space 1}    1.96{col 46}{space 3}0.053{col 54}{space 4}-.0485111{col 67}{space 3} 7.832303
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}3.891896

{txt}added scalar:
               e(sd43) =  {res}1.990669

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 5.107754{col 26}{space 2} 1.982662{col 37}{space 1}    2.58{col 46}{space 3}0.011{col 54}{space 4} 1.183196{col 67}{space 3} 9.032311
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}5.1077536

{txt}added scalar:
               e(sd53) =  {res}1.9826617

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -4.01776{col 26}{space 2} 1.768733{col 37}{space 1}   -2.27{col 46}{space 3}0.025{col 54}{space 4}-7.518859{col 67}{space 3}-.5166617
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-4.0177605

{txt}added scalar:
               e(sd63) =  {res}1.7687331

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.215858{col 26}{space 2} 2.058834{col 37}{space 1}    0.59{col 46}{space 3}0.556{col 54}{space 4}-2.859479{col 67}{space 3} 5.291194
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}1.2158576

{txt}added scalar:
               e(sd54) =  {res}2.0588345

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-7.909657{col 26}{space 2} 1.834456{col 37}{space 1}   -4.31{col 46}{space 3}0.000{col 54}{space 4}-11.54085{col 67}{space 3}-4.278463
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-7.9096565

{txt}added scalar:
               e(sd64) =  {res}1.8344564

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       con35{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-9.125514{col 26}{space 2} 1.774259{col 37}{space 1}   -5.14{col 46}{space 3}0.000{col 54}{space 4}-12.63755{col 67}{space 3}-5.613478
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-9.1255141

{txt}added scalar:
               e(sd65) =  {res}1.7742588

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con35 {c |}{res}          1    77.15857           .   77.15857   77.15857

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con35 {c |}{res}          1    72.23672           .   72.23672   72.23672

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 7}con35 {c |}{res}          1    75.31017           .   75.31017   75.31017

{txt}added scalar:
             e(mean21) =  {res}-4.9218521

{txt}added scalar:
             e(mean31) =  {res}-1.8483963

{txt}added scalar:
             e(mean32) =  {res}3.0734558
{txt}
{com}. 
. esttab con* using "output/result_mturk.csv", /*
> */  keep(_cons $treatmentlist $control) append cells(b(star fmt(%9.2f)) se(par fmt(%9.2f))) star( * 0.10 ** 0.05 *** 0.010)  /*
> */ stats(r2_a N diff32 sd32 diff42 sd42 diff52 sd52 diff62 sd62 diff43 sd43 diff53 sd53 diff63 sd63 diff54 sd54 diff64 sd64 diff65 sd65  mean21 mean31 mean32 , fmt(%9.2f %9.0g ) labels(R-squared N T3-T2 sd T4-T2 sd T5-T2 sd T6-T2 sd T4-T3 sd T5-T3 sd T6-T3 sd T5-T4 sd T6-T4 sd T6-T5 sd T2-T1 T3-T1 T3-T2))  collabels(none) title(" consumption")
{res}{txt}(output written to {browse  `"output/result_mturk.csv"'})

{com}. 
. 
. 
. 
. *average 5 period payoff, lifetime utility payoff25, cumulative payment for first 25 period payoff24
. 
. foreach i of numlist 1(5)21 24 26 31 25 {c -(}
{txt}  2{com}. reg payoff`i'  $treatmentlist $control if subsessionround_in_sequence==`i' & sessiontype<10, vce(cluster id)
{txt}  3{com}. foreach k of numlist 2/5{c -(}
{txt}  4{com}.         foreach m of numlist `=`k'+1'/6{c -(}
{txt}  5{com}. lincom t`m'-t`k'
{txt}  6{com}. estadd scalar diff`m'`k' r(estimate)
{txt}  7{com}. estadd scalar sd`m'`k' r(se)
{txt}  8{com}. {c )-} 
{txt}  9{com}. {c )-}
{txt} 10{com}. foreach j of numlist 1/3{c -(}
{txt} 11{com}. sum payoff`i' if subsessionround_in_sequence==`i' & sessiontype==`=`j'+10'
{txt} 12{com}. local mean`j'=r(mean)
{txt} 13{com}. {c )-}
{txt} 14{com}. estadd scalar mean21=`mean2'-`mean1'
{txt} 15{com}. estadd scalar mean31=`mean3'-`mean1'
{txt} 16{com}. estadd scalar mean32=`mean3'-`mean2'
{txt} 17{com}. 
. est store payoff`i'
{txt} 18{com}. {c )-}

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    15.01
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3629
                                                {txt}Root MSE          =    {res} .82159

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}            payoff1{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 1.112513{col 33}{space 2} .2135122{col 44}{space 1}    5.21{col 53}{space 3}0.000{col 61}{space 4} .6911886{col 74}{space 3} 1.533838
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 1.135416{col 33}{space 2} .1773514{col 44}{space 1}    6.40{col 53}{space 3}0.000{col 61}{space 4} .7854478{col 74}{space 3} 1.485385
{txt}{space 17}t4 {c |}{col 21}{res}{space 2} .0795705{col 33}{space 2} .1711096{col 44}{space 1}    0.47{col 53}{space 3}0.642{col 61}{space 4}-.2580811{col 74}{space 3} .4172221
{txt}{space 17}t5 {c |}{col 21}{res}{space 2} .2990299{col 33}{space 2} .1695107{col 44}{space 1}    1.76{col 53}{space 3}0.079{col 61}{space 4}-.0354665{col 74}{space 3} .6335263
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 1.580697{col 33}{space 2}   .17431{col 44}{space 1}    9.07{col 53}{space 3}0.000{col 61}{space 4}  1.23673{col 74}{space 3} 1.924664
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.0230243{col 33}{space 2} .0472476{col 44}{space 1}   -0.49{col 53}{space 3}0.627{col 61}{space 4}-.1162584{col 74}{space 3} .0702097
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .0123601{col 33}{space 2} .0555632{col 44}{space 1}    0.22{col 53}{space 3}0.824{col 61}{space 4} -.097283{col 74}{space 3} .1220033
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} -.015148{col 33}{space 2}  .019623{col 44}{space 1}   -0.77{col 53}{space 3}0.441{col 61}{space 4}-.0538702{col 74}{space 3} .0235742
{txt}{space 13}female {c |}{col 21}{res}{space 2} .1188521{col 33}{space 2} .1131093{col 44}{space 1}    1.05{col 53}{space 3}0.295{col 61}{space 4}-.1043471{col 74}{space 3} .3420514
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}-.0391556{col 33}{space 2} .0609142{col 44}{space 1}   -0.64{col 53}{space 3}0.521{col 61}{space 4}-.1593579{col 74}{space 3} .0810468
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 1.311181{col 33}{space 2} .1994958{col 44}{space 1}    6.57{col 53}{space 3}0.000{col 61}{space 4} .9175145{col 74}{space 3} 1.704847
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0229029{col 26}{space 2} .2098799{col 37}{space 1}    0.11{col 46}{space 3}0.913{col 54}{space 4}-.3912544{col 67}{space 3} .4370601
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.02290287

{txt}added scalar:
               e(sd32) =  {res}.20987995

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.032943{col 26}{space 2} .2098855{col 37}{space 1}   -4.92{col 46}{space 3}0.000{col 54}{space 4}-1.447111{col 67}{space 3}-.6187747
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-1.032943

{txt}added scalar:
               e(sd42) =  {res}.20988555

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.8134835{col 26}{space 2} .2093189{col 37}{space 1}   -3.89{col 46}{space 3}0.000{col 54}{space 4}-1.226534{col 67}{space 3}-.4004334
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.81348354

{txt}added scalar:
               e(sd52) =  {res}.20931893

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4681836{col 26}{space 2} .2164159{col 37}{space 1}    2.16{col 46}{space 3}0.032{col 54}{space 4}  .041129{col 67}{space 3} .8952382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.46818356

{txt}added scalar:
               e(sd62) =  {res}.21641587

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.055846{col 26}{space 2} .1762317{col 37}{space 1}   -5.99{col 46}{space 3}0.000{col 54}{space 4}-1.403605{col 67}{space 3} -.708087
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-1.0558459

{txt}added scalar:
               e(sd43) =  {res}.17623167

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.8363864{col 26}{space 2} .1743186{col 37}{space 1}   -4.80{col 46}{space 3}0.000{col 54}{space 4} -1.18037{col 67}{space 3}-.4924026
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-.83638641

{txt}added scalar:
               e(sd53) =  {res}.17431857

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4452807{col 26}{space 2} .1787256{col 37}{space 1}    2.49{col 46}{space 3}0.014{col 54}{space 4} .0926005{col 67}{space 3} .7979609
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.44528068

{txt}added scalar:
               e(sd63) =  {res}.17872559

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2194595{col 26}{space 2} .1733562{col 37}{space 1}    1.27{col 46}{space 3}0.207{col 54}{space 4}-.1226253{col 67}{space 3} .5615442
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.21945945

{txt}added scalar:
               e(sd54) =  {res}.17335619

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.501127{col 26}{space 2} .1709876{col 37}{space 1}    8.78{col 46}{space 3}0.000{col 54}{space 4} 1.163716{col 67}{space 3} 1.838537
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}1.5011265

{txt}added scalar:
               e(sd64) =  {res}.17098756

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff1{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.281667{col 26}{space 2} .1779429{col 37}{space 1}    7.20{col 46}{space 3}0.000{col 54}{space 4} .9305314{col 67}{space 3} 1.632803
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}1.2816671

{txt}added scalar:
               e(sd65) =  {res}.17794291

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff1 {c |}{res}          1    2.323492           .   2.323492   2.323492

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff1 {c |}{res}          1    2.392159           .   2.392159   2.392159

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff1 {c |}{res}          1    2.318804           .   2.318804   2.318804

{txt}added scalar:
             e(mean21) =  {res}.06866693

{txt}added scalar:
             e(mean31) =  {res}-.00468802

{txt}added scalar:
             e(mean32) =  {res}-.07335496

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    15.07
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3131
                                                {txt}Root MSE          =    {res} .99317

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}            payoff6{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} .9467469{col 33}{space 2} .2438979{col 44}{space 1}    3.88{col 53}{space 3}0.000{col 61}{space 4}  .465462{col 74}{space 3} 1.428032
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 1.268529{col 33}{space 2} .1849736{col 44}{space 1}    6.86{col 53}{space 3}0.000{col 61}{space 4} .9035199{col 74}{space 3} 1.633539
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.0089029{col 33}{space 2} .2258311{col 44}{space 1}   -0.04{col 53}{space 3}0.969{col 61}{space 4}-.4545367{col 74}{space 3} .4367308
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.3389469{col 33}{space 2} .2475067{col 44}{space 1}   -1.37{col 53}{space 3}0.173{col 61}{space 4}-.8273532{col 74}{space 3} .1494593
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 1.245959{col 33}{space 2} .2048586{col 44}{space 1}    6.08{col 53}{space 3}0.000{col 61}{space 4} .8417104{col 74}{space 3} 1.650208
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.0126025{col 33}{space 2} .0557191{col 44}{space 1}   -0.23{col 53}{space 3}0.821{col 61}{space 4}-.1225532{col 74}{space 3} .0973483
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .0820948{col 33}{space 2} .0788121{col 44}{space 1}    1.04{col 53}{space 3}0.299{col 61}{space 4}-.0734256{col 74}{space 3} .2376153
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.0047658{col 33}{space 2} .0225264{col 44}{space 1}   -0.21{col 53}{space 3}0.833{col 61}{space 4}-.0492172{col 74}{space 3} .0396856
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0476721{col 33}{space 2} .1319521{col 44}{space 1}    0.36{col 53}{space 3}0.718{col 61}{space 4}-.2127096{col 74}{space 3} .3080538
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0647611{col 33}{space 2} .0790564{col 44}{space 1}    0.82{col 53}{space 3}0.414{col 61}{space 4}-.0912414{col 74}{space 3} .2207636
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 2.456964{col 33}{space 2} .2501707{col 44}{space 1}    9.82{col 53}{space 3}0.000{col 61}{space 4}   1.9633{col 74}{space 3} 2.950627
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .3217823{col 26}{space 2} .1834372{col 37}{space 1}    1.75{col 46}{space 3}0.081{col 54}{space 4}-.0401954{col 67}{space 3} .6837601
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.32178234

{txt}added scalar:
               e(sd32) =  {res}.18343725

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.9556499{col 26}{space 2} .2386044{col 37}{space 1}   -4.01{col 46}{space 3}0.000{col 54}{space 4}-1.426489{col 67}{space 3}-.4848104
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.95564986

{txt}added scalar:
               e(sd42) =  {res}.23860444

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.285694{col 26}{space 2} .2610185{col 37}{space 1}   -4.93{col 46}{space 3}0.000{col 54}{space 4}-1.800763{col 67}{space 3}-.7706246
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-1.2856939

{txt}added scalar:
               e(sd52) =  {res}.26101853

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2992121{col 26}{space 2} .2247597{col 37}{space 1}    1.33{col 46}{space 3}0.185{col 54}{space 4}-.1443074{col 67}{space 3} .7427316
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.29921213

{txt}added scalar:
               e(sd62) =  {res}.22475968

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.277432{col 26}{space 2} .1801583{col 37}{space 1}   -7.09{col 46}{space 3}0.000{col 54}{space 4} -1.63294{col 67}{space 3}-.9219248
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-1.2774322

{txt}added scalar:
               e(sd43) =  {res}.18015833

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.607476{col 26}{space 2} .2096935{col 37}{space 1}   -7.67{col 46}{space 3}0.000{col 54}{space 4}-2.021266{col 67}{space 3}-1.193687
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-1.6074762

{txt}added scalar:
               e(sd53) =  {res}.20969349

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0225702{col 26}{space 2} .1589202{col 37}{space 1}   -0.14{col 46}{space 3}0.887{col 54}{space 4}-.3361682{col 67}{space 3} .2910278
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.02257021

{txt}added scalar:
               e(sd63) =  {res}.15892016

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.330044{col 26}{space 2} .2473627{col 37}{space 1}   -1.33{col 46}{space 3}0.184{col 54}{space 4}-.8181662{col 67}{space 3} .1580782
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.33004401

{txt}added scalar:
               e(sd54) =  {res}.24736274

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.254862{col 26}{space 2} .2030896{col 37}{space 1}    6.18{col 46}{space 3}0.000{col 54}{space 4} .8541043{col 67}{space 3}  1.65562
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}1.254862

{txt}added scalar:
               e(sd64) =  {res}.20308956

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}     payoff6{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.584906{col 26}{space 2} .2304842{col 37}{space 1}    6.88{col 46}{space 3}0.000{col 54}{space 4}  1.13009{col 67}{space 3} 2.039722
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}1.584906

{txt}added scalar:
               e(sd65) =  {res}.2304842

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff6 {c |}{res}          1    3.338104           .   3.338104   3.338104

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff6 {c |}{res}          1    3.219345           .   3.219345   3.219345

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}payoff6 {c |}{res}          1    3.282618           .   3.282618   3.282618

{txt}added scalar:
             e(mean21) =  {res}-.11875916

{txt}added scalar:
             e(mean31) =  {res}-.0554862

{txt}added scalar:
             e(mean32) =  {res}.06327295

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    23.42
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.4269
                                                {txt}Root MSE          =    {res} 1.0406

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff11{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2} 1.197284{col 33}{space 2} .2563172{col 44}{space 1}    4.67{col 53}{space 3}0.000{col 61}{space 4} .6914914{col 74}{space 3} 1.703076
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 1.548167{col 33}{space 2} .2291629{col 44}{space 1}    6.76{col 53}{space 3}0.000{col 61}{space 4} 1.095959{col 74}{space 3} 2.000375
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.4205103{col 33}{space 2} .2876781{col 44}{space 1}   -1.46{col 53}{space 3}0.146{col 61}{space 4} -.988187{col 74}{space 3} .1471663
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.5747254{col 33}{space 2} .2828873{col 44}{space 1}   -2.03{col 53}{space 3}0.044{col 61}{space 4}-1.132948{col 74}{space 3}-.0165023
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 1.296843{col 33}{space 2} .2374935{col 44}{space 1}    5.46{col 53}{space 3}0.000{col 61}{space 4} .8281955{col 74}{space 3}  1.76549
{txt}{space 16}crt {c |}{col 21}{res}{space 2}-.0119167{col 33}{space 2} .0569233{col 44}{space 1}   -0.21{col 53}{space 3}0.834{col 61}{space 4}-.1242436{col 74}{space 3} .1004103
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .1489394{col 33}{space 2} .0818091{col 44}{space 1}    1.82{col 53}{space 3}0.070{col 61}{space 4} -.012495{col 74}{space 3} .3103738
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2}-.0101761{col 33}{space 2} .0236294{col 44}{space 1}   -0.43{col 53}{space 3}0.667{col 61}{space 4}-.0568041{col 74}{space 3} .0364518
{txt}{space 13}female {c |}{col 21}{res}{space 2} .0505852{col 33}{space 2} .1438699{col 44}{space 1}    0.35{col 53}{space 3}0.726{col 61}{space 4}-.2333141{col 74}{space 3} .3344845
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0709722{col 33}{space 2} .0759984{col 44}{space 1}    0.93{col 53}{space 3}0.352{col 61}{space 4}-.0789959{col 74}{space 3} .2209403
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 2.178688{col 33}{space 2} .2844201{col 44}{space 1}    7.66{col 53}{space 3}0.000{col 61}{space 4}  1.61744{col 74}{space 3} 2.739936
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .3508834{col 26}{space 2} .1682064{col 37}{space 1}    2.09{col 46}{space 3}0.038{col 54}{space 4} .0189608{col 67}{space 3}  .682806
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.3508834

{txt}added scalar:
               e(sd32) =  {res}.16820642

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.617794{col 26}{space 2}  .256232{col 37}{space 1}   -6.31{col 46}{space 3}0.000{col 54}{space 4}-2.123418{col 67}{space 3} -1.11217
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-1.6177939

{txt}added scalar:
               e(sd42) =  {res}.25623201

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.772009{col 26}{space 2} .2443293{col 37}{space 1}   -7.25{col 46}{space 3}0.000{col 54}{space 4}-2.254145{col 67}{space 3}-1.289873
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-1.7720089

{txt}added scalar:
               e(sd52) =  {res}.24432926

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0995592{col 26}{space 2} .1999541{col 37}{space 1}    0.50{col 46}{space 3}0.619{col 54}{space 4}-.2950114{col 67}{space 3} .4941298
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.09955922

{txt}added scalar:
               e(sd62) =  {res}.19995414

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.968677{col 26}{space 2}  .236904{col 37}{space 1}   -8.31{col 46}{space 3}0.000{col 54}{space 4}-2.436161{col 67}{space 3}-1.501193
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-1.9686773

{txt}added scalar:
               e(sd43) =  {res}.23690398

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.122892{col 26}{space 2}  .225712{col 37}{space 1}   -9.41{col 46}{space 3}0.000{col 54}{space 4}-2.568291{col 67}{space 3}-1.677494
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-2.1228923

{txt}added scalar:
               e(sd53) =  {res}.225712

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2513242{col 26}{space 2} .1725667{col 37}{space 1}   -1.46{col 46}{space 3}0.147{col 54}{space 4} -.591851{col 67}{space 3} .0892027
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.25132418

{txt}added scalar:
               e(sd63) =  {res}.17256672

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.154215{col 26}{space 2} .2790417{col 37}{space 1}   -0.55{col 46}{space 3}0.581{col 54}{space 4}-.7048496{col 67}{space 3} .3964195
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.15421504

{txt}added scalar:
               e(sd54) =  {res}.27904172

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.717353{col 26}{space 2} .2292751{col 37}{space 1}    7.49{col 46}{space 3}0.000{col 54}{space 4} 1.264923{col 67}{space 3} 2.169783
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}1.7173531

{txt}added scalar:
               e(sd64) =  {res}.22927513

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff11{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.871568{col 26}{space 2} .2300074{col 37}{space 1}    8.14{col 46}{space 3}0.000{col 54}{space 4} 1.417693{col 67}{space 3} 2.325443
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}1.8715682

{txt}added scalar:
               e(sd65) =  {res}.23000741

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff11 {c |}{res}          1    3.954995           .   3.954995   3.954995

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff11 {c |}{res}          1    3.759653           .   3.759653   3.759653

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff11 {c |}{res}          1    3.899955           .   3.899955   3.899955

{txt}added scalar:
             e(mean21) =  {res}-.19534254

{txt}added scalar:
             e(mean31) =  {res}-.05504036

{txt}added scalar:
             e(mean32) =  {res}.14030218

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    23.65
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3637
                                                {txt}Root MSE          =    {res} 1.1186

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff16{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-2.175716{col 33}{space 2} .2020285{col 44}{space 1}  -10.77{col 53}{space 3}0.000{col 61}{space 4} -2.57438{col 74}{space 3}-1.777052
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-1.708536{col 33}{space 2} .2436018{col 44}{space 1}   -7.01{col 53}{space 3}0.000{col 61}{space 4}-2.189236{col 74}{space 3}-1.227835
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.5653154{col 33}{space 2} .1967474{col 44}{space 1}   -2.87{col 53}{space 3}0.005{col 61}{space 4}-.9535582{col 74}{space 3}-.1770726
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.3818567{col 33}{space 2} .1967455{col 44}{space 1}   -1.94{col 53}{space 3}0.054{col 61}{space 4}-.7700956{col 74}{space 3} .0063822
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-1.554244{col 33}{space 2} .2348006{col 44}{space 1}   -6.62{col 53}{space 3}0.000{col 61}{space 4}-2.017577{col 74}{space 3} -1.09091
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0016584{col 33}{space 2} .0700358{col 44}{space 1}    0.02{col 53}{space 3}0.981{col 61}{space 4}-.1365435{col 74}{space 3} .1398604
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .1799911{col 33}{space 2}  .071981{col 44}{space 1}    2.50{col 53}{space 3}0.013{col 61}{space 4} .0379506{col 74}{space 3} .3220316
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0780136{col 33}{space 2} .0247512{col 44}{space 1}    3.15{col 53}{space 3}0.002{col 61}{space 4}  .029172{col 74}{space 3} .1268553
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.2366435{col 33}{space 2} .1392183{col 44}{space 1}   -1.70{col 53}{space 3}0.091{col 61}{space 4}-.5113638{col 74}{space 3} .0380768
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .3882698{col 33}{space 2} .0907785{col 44}{space 1}    4.28{col 53}{space 3}0.000{col 61}{space 4} .2091361{col 74}{space 3} .5674035
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 2.328895{col 33}{space 2} .2603627{col 44}{space 1}    8.94{col 53}{space 3}0.000{col 61}{space 4}  1.81512{col 74}{space 3} 2.842671
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4671807{col 26}{space 2}   .27252{col 37}{space 1}    1.71{col 46}{space 3}0.088{col 54}{space 4}-.0705845{col 67}{space 3} 1.004946
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.46718073

{txt}added scalar:
               e(sd32) =  {res}.27252001

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.610401{col 26}{space 2} .2299871{col 37}{space 1}    7.00{col 46}{space 3}0.000{col 54}{space 4} 1.156566{col 67}{space 3} 2.064236
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}1.6104009

{txt}added scalar:
               e(sd42) =  {res}.22998709

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  1.79386{col 26}{space 2} .2358766{col 37}{space 1}    7.61{col 46}{space 3}0.000{col 54}{space 4} 1.328403{col 67}{space 3} 2.259316
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}1.7938596

{txt}added scalar:
               e(sd52) =  {res}.23587664

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .6214727{col 26}{space 2} .2670726{col 37}{space 1}    2.33{col 46}{space 3}0.021{col 54}{space 4} .0944569{col 67}{space 3} 1.148489
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.6214727

{txt}added scalar:
               e(sd62) =  {res}.26707261

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  1.14322{col 26}{space 2} .2715424{col 37}{space 1}    4.21{col 46}{space 3}0.000{col 54}{space 4} .6073841{col 67}{space 3} 1.679056
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}1.1432202

{txt}added scalar:
               e(sd43) =  {res}.27154239

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.326679{col 26}{space 2}  .270838{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .7922327{col 67}{space 3} 1.861125
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}1.3266789

{txt}added scalar:
               e(sd53) =  {res}.27083802

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .154292{col 26}{space 2} .2954922{col 37}{space 1}    0.52{col 46}{space 3}0.602{col 54}{space 4}-.4288045{col 67}{space 3} .7373884
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.15429197

{txt}added scalar:
               e(sd63) =  {res}.29549223

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1834587{col 26}{space 2}  .225249{col 37}{space 1}    0.81{col 46}{space 3}0.416{col 54}{space 4}-.2610265{col 67}{space 3} .6279438
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.18345867

{txt}added scalar:
               e(sd54) =  {res}.22524903

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.9889282{col 26}{space 2}  .264851{col 37}{space 1}   -3.73{col 46}{space 3}0.000{col 54}{space 4} -1.51156{col 67}{space 3}-.4662964
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.98892823

{txt}added scalar:
               e(sd64) =  {res}.26485095

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff16{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.172387{col 26}{space 2} .2607727{col 37}{space 1}   -4.50{col 46}{space 3}0.000{col 54}{space 4}-1.686971{col 67}{space 3}-.6578028
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-1.1723869

{txt}added scalar:
               e(sd65) =  {res}.26077268

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff16 {c |}{res}          1    3.452302           .   3.452302   3.452302

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff16 {c |}{res}          1    3.253599           .   3.253599   3.253599

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff16 {c |}{res}          1    3.390483           .   3.390483   3.390483

{txt}added scalar:
             e(mean21) =  {res}-.19870281

{txt}added scalar:
             e(mean31) =  {res}-.06181908

{txt}added scalar:
             e(mean32) =  {res}.13688374

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}    16.79
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.3010
                                                {txt}Root MSE          =    {res}  .7698

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff21{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-1.112207{col 33}{space 2}  .158608{col 44}{space 1}   -7.01{col 53}{space 3}0.000{col 61}{space 4}-1.425189{col 74}{space 3}-.7992249
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.9814953{col 33}{space 2} .1735845{col 44}{space 1}   -5.65{col 53}{space 3}0.000{col 61}{space 4} -1.32403{col 74}{space 3}-.6389601
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.6567479{col 33}{space 2} .1804356{col 44}{space 1}   -3.64{col 53}{space 3}0.000{col 61}{space 4}-1.012803{col 74}{space 3}-.3006933
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.7629391{col 33}{space 2} .1805946{col 44}{space 1}   -4.22{col 53}{space 3}0.000{col 61}{space 4}-1.119307{col 74}{space 3}-.4065707
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-1.252041{col 33}{space 2} .1555215{col 44}{space 1}   -8.05{col 53}{space 3}0.000{col 61}{space 4}-1.558932{col 74}{space 3}-.9451498
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .1237268{col 33}{space 2} .0430017{col 44}{space 1}    2.88{col 53}{space 3}0.004{col 61}{space 4} .0388714{col 74}{space 3} .2085822
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .0466724{col 33}{space 2} .0608309{col 44}{space 1}    0.77{col 53}{space 3}0.444{col 61}{space 4}-.0733655{col 74}{space 3} .1667102
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0400179{col 33}{space 2} .0171894{col 44}{space 1}    2.33{col 53}{space 3}0.021{col 61}{space 4}  .006098{col 74}{space 3} .0739379
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.2580491{col 33}{space 2} .1025144{col 44}{space 1}   -2.52{col 53}{space 3}0.013{col 61}{space 4}-.4603413{col 74}{space 3} -.055757
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0811731{col 33}{space 2} .0598463{col 44}{space 1}    1.36{col 53}{space 3}0.177{col 61}{space 4}-.0369219{col 74}{space 3} .1992681
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 1.038631{col 33}{space 2} .2149192{col 44}{space 1}    4.83{col 53}{space 3}0.000{col 61}{space 4} .6145296{col 74}{space 3} 1.462732
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .1307117{col 26}{space 2} .1734454{col 37}{space 1}    0.75{col 46}{space 3}0.452{col 54}{space 4}-.2115491{col 67}{space 3} .4729725
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}.13071173

{txt}added scalar:
               e(sd32) =  {res}.17344542

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .4554591{col 26}{space 2} .1835721{col 37}{space 1}    2.48{col 46}{space 3}0.014{col 54}{space 4} .0932152{col 67}{space 3} .8177029
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}.45545908

{txt}added scalar:
               e(sd42) =  {res}.18357212

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .3492679{col 26}{space 2} .1781753{col 37}{space 1}    1.96{col 46}{space 3}0.052{col 54}{space 4}-.0023263{col 67}{space 3} .7008622
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}.34926794

{txt}added scalar:
               e(sd52) =  {res}.17817528

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1398341{col 26}{space 2} .1614903{col 37}{space 1}   -0.87{col 46}{space 3}0.388{col 54}{space 4}-.4585038{col 67}{space 3} .1788355
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.13983414

{txt}added scalar:
               e(sd62) =  {res}.16149029

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .3247473{col 26}{space 2} .1951269{col 37}{space 1}    1.66{col 46}{space 3}0.098{col 54}{space 4}-.0602976{col 67}{space 3} .7097923
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.32474735

{txt}added scalar:
               e(sd43) =  {res}.19512691

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .2185562{col 26}{space 2} .1924091{col 37}{space 1}    1.14{col 46}{space 3}0.258{col 54}{space 4}-.1611258{col 67}{space 3} .5982382
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.21855621

{txt}added scalar:
               e(sd53) =  {res}.19240913

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2705459{col 26}{space 2} .1751852{col 37}{space 1}   -1.54{col 46}{space 3}0.124{col 54}{space 4}-.6162397{col 67}{space 3} .0751479
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.27054587

{txt}added scalar:
               e(sd63) =  {res}.17518515

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1061911{col 26}{space 2} .1965159{col 37}{space 1}   -0.54{col 46}{space 3}0.590{col 54}{space 4} -.493977{col 67}{space 3} .2815947
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.10619114

{txt}added scalar:
               e(sd54) =  {res}.19651589

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.5952932{col 26}{space 2} .1631101{col 37}{space 1}   -3.65{col 46}{space 3}0.000{col 54}{space 4}-.9171594{col 67}{space 3}-.2734271
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.59529322

{txt}added scalar:
               e(sd64) =  {res}.16311015

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff21{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.4891021{col 26}{space 2} .1723397{col 37}{space 1}   -2.84{col 46}{space 3}0.005{col 54}{space 4}-.8291809{col 67}{space 3}-.1490233
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.48910208

{txt}added scalar:
               e(sd65) =  {res}.17233966

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff21 {c |}{res}          1    2.019124           .   2.019124   2.019124

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff21 {c |}{res}          1    1.858485           .   1.858485   1.858485

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff21 {c |}{res}          1    1.966788           .   1.966788   1.966788

{txt}added scalar:
             e(mean21) =  {res}-.16063845

{txt}added scalar:
             e(mean31) =  {res}-.05233562

{txt}added scalar:
             e(mean32) =  {res}.10830283

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     7.66
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2086
                                                {txt}Root MSE          =    {res} 2.7597

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff24{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.0313792{col 33}{space 2} .6288323{col 44}{space 1}   -0.05{col 53}{space 3}0.960{col 61}{space 4}-1.272257{col 74}{space 3} 1.209499
{txt}{space 17}t3 {c |}{col 21}{res}{space 2} 1.262082{col 33}{space 2} .5430889{col 44}{space 1}    2.32{col 53}{space 3}0.021{col 61}{space 4} .1904016{col 74}{space 3} 2.333762
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-1.571906{col 33}{space 2} .7690884{col 44}{space 1}   -2.04{col 53}{space 3}0.042{col 61}{space 4}-3.089552{col 74}{space 3}-.0542597
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-1.759438{col 33}{space 2} .7077986{col 44}{space 1}   -2.49{col 53}{space 3}0.014{col 61}{space 4}-3.156141{col 74}{space 3}-.3627354
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} 1.317214{col 33}{space 2} .5789499{col 44}{space 1}    2.28{col 53}{space 3}0.024{col 61}{space 4} .1747693{col 74}{space 3} 2.459659
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0778418{col 33}{space 2}  .173662{col 44}{space 1}    0.45{col 53}{space 3}0.655{col 61}{space 4}-.2648464{col 74}{space 3}   .42053
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .4700578{col 33}{space 2}  .224078{col 44}{space 1}    2.10{col 53}{space 3}0.037{col 61}{space 4} .0278834{col 74}{space 3} .9122322
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0879417{col 33}{space 2} .0626593{col 44}{space 1}    1.40{col 53}{space 3}0.162{col 61}{space 4}-.0357042{col 74}{space 3} .2115876
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.2775832{col 33}{space 2} .3871899{col 44}{space 1}   -0.72{col 53}{space 3}0.474{col 61}{space 4}-1.041627{col 74}{space 3} .4864606
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .5660207{col 33}{space 2} .1967414{col 44}{space 1}    2.88{col 53}{space 3}0.005{col 61}{space 4} .1777898{col 74}{space 3} .9542517
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 9.314359{col 33}{space 2}  .683574{col 44}{space 1}   13.63{col 53}{space 3}0.000{col 61}{space 4} 7.965459{col 74}{space 3} 10.66326
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.293461{col 26}{space 2} .4232156{col 37}{space 1}    3.06{col 46}{space 3}0.003{col 54}{space 4} .4583274{col 67}{space 3} 2.128595
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.293461

{txt}added scalar:
               e(sd32) =  {res}.42321563

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.540527{col 26}{space 2} .7158486{col 37}{space 1}   -2.15{col 46}{space 3}0.033{col 54}{space 4}-2.953115{col 67}{space 3}-.1279388
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-1.5405268

{txt}added scalar:
               e(sd42) =  {res}.71584865

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.728059{col 26}{space 2}  .654677{col 37}{space 1}   -2.64{col 46}{space 3}0.009{col 54}{space 4}-3.019937{col 67}{space 3}-.4361812
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-1.7280589

{txt}added scalar:
               e(sd52) =  {res}.65467701

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 1.348593{col 26}{space 2} .5249942{col 37}{space 1}    2.57{col 46}{space 3}0.011{col 54}{space 4} .3126195{col 67}{space 3} 2.384567
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}1.3485934

{txt}added scalar:
               e(sd62) =  {res}.52499421

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.833988{col 26}{space 2} .6542242{col 37}{space 1}   -4.33{col 46}{space 3}0.000{col 54}{space 4}-4.124972{col 67}{space 3}-1.543004
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-2.8339878

{txt}added scalar:
               e(sd43) =  {res}.65422422

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -3.02152{col 26}{space 2} .5935123{col 37}{space 1}   -5.09{col 46}{space 3}0.000{col 54}{space 4}-4.192701{col 67}{space 3}-1.850339
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-3.0215199

{txt}added scalar:
               e(sd53) =  {res}.59351233

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0551324{col 26}{space 2} .4169658{col 37}{space 1}    0.13{col 46}{space 3}0.895{col 54}{space 4}-.7676686{col 67}{space 3} .8779334
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}.05513238

{txt}added scalar:
               e(sd63) =  {res}.41696585

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1875321{col 26}{space 2} .7957457{col 37}{space 1}   -0.24{col 46}{space 3}0.814{col 54}{space 4}-1.757781{col 67}{space 3} 1.382717
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.18753209

{txt}added scalar:
               e(sd54) =  {res}.79574568

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  2.88912{col 26}{space 2} .6898153{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} 1.527904{col 67}{space 3} 4.250337
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}2.8891202

{txt}added scalar:
               e(sd64) =  {res}.68981532

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff24{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 3.076652{col 26}{space 2} .6136569{col 37}{space 1}    5.01{col 46}{space 3}0.000{col 54}{space 4}  1.86572{col 67}{space 3} 4.287585
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}3.0766523

{txt}added scalar:
               e(sd65) =  {res}.61365694

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff24 {c |}{res}          1    15.08802           .   15.08802   15.08802

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff24 {c |}{res}          1    14.48324           .   14.48324   14.48324

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff24 {c |}{res}          1    14.85865           .   14.85865   14.85865

{txt}added scalar:
             e(mean21) =  {res}-.60477638

{txt}added scalar:
             e(mean31) =  {res}-.22936916

{txt}added scalar:
             e(mean32) =  {res}.37540722

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     3.61
                                                {txt}Prob > F          = {res}    0.0003
                                                {txt}R-squared         = {res}    0.1477
                                                {txt}Root MSE          =    {res} .42248

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff26{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1875822{col 33}{space 2} .1390455{col 44}{space 1}   -1.35{col 53}{space 3}0.180{col 61}{space 4}-.4628141{col 74}{space 3} .0876498
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.2120605{col 33}{space 2} .1531567{col 44}{space 1}   -1.38{col 53}{space 3}0.169{col 61}{space 4}-.5152247{col 74}{space 3} .0911038
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.1896561{col 33}{space 2} .1383707{col 44}{space 1}   -1.37{col 53}{space 3}0.173{col 61}{space 4}-.4635523{col 74}{space 3} .0842402
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.1970653{col 33}{space 2} .1370912{col 44}{space 1}   -1.44{col 53}{space 3}0.153{col 61}{space 4} -.468429{col 74}{space 3} .0742983
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.3991021{col 33}{space 2} .1120595{col 44}{space 1}   -3.56{col 53}{space 3}0.001{col 61}{space 4}-.6209169{col 74}{space 3}-.1772873
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0434484{col 33}{space 2} .0321758{col 44}{space 1}    1.35{col 53}{space 3}0.179{col 61}{space 4}-.0202416{col 74}{space 3} .1071383
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .0388014{col 33}{space 2} .0298534{col 44}{space 1}    1.30{col 53}{space 3}0.196{col 61}{space 4}-.0202915{col 74}{space 3} .0978943
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0113994{col 33}{space 2} .0132338{col 44}{space 1}    0.86{col 53}{space 3}0.391{col 61}{space 4}-.0147961{col 74}{space 3}  .037595
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.1798606{col 33}{space 2} .0765457{col 44}{space 1}   -2.35{col 53}{space 3}0.020{col 61}{space 4}-.3313782{col 74}{space 3}-.0283431
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .0146082{col 33}{space 2} .0582839{col 44}{space 1}    0.25{col 53}{space 3}0.803{col 61}{space 4}-.1007611{col 74}{space 3} .1299776
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .2878574{col 33}{space 2} .1570697{col 44}{space 1}    1.83{col 53}{space 3}0.069{col 61}{space 4}-.0230525{col 74}{space 3} .5987673
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0244783{col 26}{space 2} .1398134{col 37}{space 1}   -0.18{col 46}{space 3}0.861{col 54}{space 4}-.3012304{col 67}{space 3} .2522738
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.02447828

{txt}added scalar:
               e(sd32) =  {res}.13981342

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0020739{col 26}{space 2} .1325821{col 37}{space 1}   -0.02{col 46}{space 3}0.988{col 54}{space 4} -.264512{col 67}{space 3} .2603642
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.00207388

{txt}added scalar:
               e(sd42) =  {res}.13258207

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0094832{col 26}{space 2} .1195183{col 37}{space 1}   -0.08{col 46}{space 3}0.937{col 54}{space 4}-.2460624{col 67}{space 3} .2270961
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.00948316

{txt}added scalar:
               e(sd52) =  {res}.11951835

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2115199{col 26}{space 2} .1033356{col 37}{space 1}   -2.05{col 46}{space 3}0.043{col 54}{space 4}-.4160664{col 67}{space 3}-.0069734
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.2115199

{txt}added scalar:
               e(sd62) =  {res}.10333561

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0224044{col 26}{space 2} .1493391{col 37}{space 1}    0.15{col 46}{space 3}0.881{col 54}{space 4}-.2732031{col 67}{space 3} .3180119
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.02240439

{txt}added scalar:
               e(sd43) =  {res}.14933907

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0149951{col 26}{space 2} .1361985{col 37}{space 1}    0.11{col 46}{space 3}0.913{col 54}{space 4}-.2546015{col 67}{space 3} .2845917
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.01499511

{txt}added scalar:
               e(sd53) =  {res}.1361985

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.1870416{col 26}{space 2} .1263162{col 37}{space 1}   -1.48{col 46}{space 3}0.141{col 54}{space 4}-.4370768{col 67}{space 3} .0629936
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.18704162

{txt}added scalar:
               e(sd63) =  {res}.12631622

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0074093{col 26}{space 2} .1266876{col 37}{space 1}   -0.06{col 46}{space 3}0.953{col 54}{space 4}-.2581796{col 67}{space 3} .2433611
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.00740928

{txt}added scalar:
               e(sd54) =  {res}.1266876

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} -.209446{col 26}{space 2}  .103482{col 37}{space 1}   -2.02{col 46}{space 3}0.045{col 54}{space 4}-.4142822{col 67}{space 3}-.0046098
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.20944602

{txt}added scalar:
               e(sd64) =  {res}.10348196

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff26{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2020367{col 26}{space 2} .0919451{col 37}{space 1}   -2.20{col 46}{space 3}0.030{col 54}{space 4}-.3840365{col 67}{space 3} -.020037
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.20203674

{txt}added scalar:
               e(sd65) =  {res}.09194514

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}          1    1.180152           .   1.180152   1.180152

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}          1    1.055695           .   1.055695   1.055695

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff26 {c |}{res}          1     1.13878           .    1.13878    1.13878

{txt}added scalar:
             e(mean21) =  {res}-.12445617

{txt}added scalar:
             e(mean31) =  {res}-.04137182

{txt}added scalar:
             e(mean32) =  {res}.08308434

{txt}Linear regression                               Number of obs     = {res}       164
                                                {txt}F(10, 123)        =  {res}     2.42
                                                {txt}Prob > F          = {res}    0.0114
                                                {txt}R-squared         = {res}    0.1353
                                                {txt}Root MSE          =    {res} .22578

{txt}{ralign 85:(Std. Err. adjusted for {res:124} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff31{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.0856469{col 33}{space 2} .0808517{col 44}{space 1}   -1.06{col 53}{space 3}0.292{col 61}{space 4}-.2456879{col 74}{space 3} .0743941
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}-.1250007{col 33}{space 2} .0783667{col 44}{space 1}   -1.60{col 53}{space 3}0.113{col 61}{space 4}-.2801227{col 74}{space 3} .0301213
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-.1172506{col 33}{space 2}  .078076{col 44}{space 1}   -1.50{col 53}{space 3}0.136{col 61}{space 4}-.2717973{col 74}{space 3} .0372962
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-.1161235{col 33}{space 2} .0791951{col 44}{space 1}   -1.47{col 53}{space 3}0.145{col 61}{space 4}-.2728853{col 74}{space 3} .0406383
{txt}{space 17}t6 {c |}{col 21}{res}{space 2}-.1839978{col 33}{space 2} .0653247{col 44}{space 1}   -2.82{col 53}{space 3}0.006{col 61}{space 4} -.313304{col 74}{space 3}-.0546916
{txt}{space 16}crt {c |}{col 21}{res}{space 2} .0225957{col 33}{space 2} .0156006{col 44}{space 1}    1.45{col 53}{space 3}0.150{col 61}{space 4}-.0082848{col 74}{space 3} .0534762
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .0232789{col 33}{space 2} .0138587{col 44}{space 1}    1.68{col 53}{space 3}0.096{col 61}{space 4}-.0041536{col 74}{space 3} .0507113
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0069658{col 33}{space 2} .0069043{col 44}{space 1}    1.01{col 53}{space 3}0.315{col 61}{space 4}-.0067009{col 74}{space 3} .0206324
{txt}{space 13}female {c |}{col 21}{res}{space 2}  -.09063{col 33}{space 2} .0391776{col 44}{space 1}   -2.31{col 53}{space 3}0.022{col 61}{space 4}-.1681798{col 74}{space 3}-.0130803
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2}  .015293{col 33}{space 2} .0336629{col 44}{space 1}    0.45{col 53}{space 3}0.650{col 61}{space 4}-.0513407{col 74}{space 3} .0819267
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .1090213{col 33}{space 2} .0810608{col 44}{space 1}    1.34{col 53}{space 3}0.181{col 61}{space 4}-.0514336{col 74}{space 3} .2694763
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0393538{col 26}{space 2} .0625786{col 37}{space 1}   -0.63{col 46}{space 3}0.531{col 54}{space 4}-.1632243{col 67}{space 3} .0845167
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}-.03935383

{txt}added scalar:
               e(sd32) =  {res}.0625786

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0316037{col 26}{space 2} .0662985{col 37}{space 1}   -0.48{col 46}{space 3}0.634{col 54}{space 4}-.1628374{col 67}{space 3}   .09963
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-.0316037

{txt}added scalar:
               e(sd42) =  {res}.06629846

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0304766{col 26}{space 2}  .064333{col 37}{space 1}   -0.47{col 46}{space 3}0.637{col 54}{space 4}-.1578199{col 67}{space 3} .0968666
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-.03047664

{txt}added scalar:
               e(sd52) =  {res}.064333

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0983509{col 26}{space 2} .0539261{col 37}{space 1}   -1.82{col 46}{space 3}0.071{col 54}{space 4}-.2050943{col 67}{space 3} .0083925
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}-.09835088

{txt}added scalar:
               e(sd62) =  {res}.05392609

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0077501{col 26}{space 2} .0630868{col 37}{space 1}    0.12{col 46}{space 3}0.902{col 54}{space 4}-.1171264{col 67}{space 3} .1326267
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}.00775013

{txt}added scalar:
               e(sd43) =  {res}.06308684

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0088772{col 26}{space 2} .0620213{col 37}{space 1}    0.14{col 46}{space 3}0.886{col 54}{space 4}-.1138902{col 67}{space 3} .1316446
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}.00887718

{txt}added scalar:
               e(sd53) =  {res}.06202131

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0589971{col 26}{space 2} .0519635{col 37}{space 1}   -1.14{col 46}{space 3}0.258{col 54}{space 4}-.1618556{col 67}{space 3} .0438615
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.05899705

{txt}added scalar:
               e(sd63) =  {res}.05196347

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} .0011271{col 26}{space 2}  .065239{col 37}{space 1}    0.02{col 46}{space 3}0.986{col 54}{space 4}-.1280096{col 67}{space 3} .1302637
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}.00112705

{txt}added scalar:
               e(sd54) =  {res}.06523903

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0667472{col 26}{space 2} .0514955{col 37}{space 1}   -1.30{col 46}{space 3}0.197{col 54}{space 4}-.1686794{col 67}{space 3} .0351851
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}-.06674718

{txt}added scalar:
               e(sd64) =  {res}.05149554

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff31{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.0678742{col 26}{space 2} .0478337{col 37}{space 1}   -1.42{col 46}{space 3}0.158{col 54}{space 4}-.1625581{col 67}{space 3} .0268096
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}-.06787424

{txt}added scalar:
               e(sd65) =  {res}.04783367

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}          1    .6893185           .   .6893185   .6893185

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}          1    .5956277           .   .5956277   .5956277

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff31 {c |}{res}          1    .6579742           .   .6579742   .6579742

{txt}added scalar:
             e(mean21) =  {res}-.09369081

{txt}added scalar:
             e(mean31) =  {res}-.03134429

{txt}added scalar:
             e(mean32) =  {res}.06234652

{txt}Linear regression                               Number of obs     = {res}       360
                                                {txt}F(10, 179)        =  {res}     7.37
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.2062
                                                {txt}Root MSE          =    {res} 2.7994

{txt}{ralign 85:(Std. Err. adjusted for {res:180} clusters in id)}
{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 21}{c |}{col 33}    Robust
{col 1}           payoff25{col 21}{c |}      Coef.{col 33}   Std. Err.{col 45}      t{col 53}   P>|t|{col 61}     [95% Con{col 74}f. Interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 17}t2 {c |}{col 21}{res}{space 2}-.1797398{col 33}{space 2} .6318496{col 44}{space 1}   -0.28{col 53}{space 3}0.776{col 61}{space 4}-1.426572{col 74}{space 3} 1.067092
{txt}{space 17}t3 {c |}{col 21}{res}{space 2}  1.04197{col 33}{space 2} .5522078{col 44}{space 1}    1.89{col 53}{space 3}0.061{col 61}{space 4}-.0477049{col 74}{space 3} 2.131645
{txt}{space 17}t4 {c |}{col 21}{res}{space 2}-1.785926{col 33}{space 2} .7865468{col 44}{space 1}   -2.27{col 53}{space 3}0.024{col 61}{space 4}-3.338023{col 74}{space 3}-.2338289
{txt}{space 17}t5 {c |}{col 21}{res}{space 2}-2.016897{col 33}{space 2} .7142806{col 44}{space 1}   -2.82{col 53}{space 3}0.005{col 61}{space 4}-3.426391{col 74}{space 3}-.6074033
{txt}{space 17}t6 {c |}{col 21}{res}{space 2} .7603652{col 33}{space 2} .5860055{col 44}{space 1}    1.30{col 53}{space 3}0.196{col 61}{space 4}-.3960026{col 74}{space 3} 1.916733
{txt}{space 16}crt {c |}{col 21}{res}{space 2}  .111342{col 33}{space 2} .1748361{col 44}{space 1}    0.64{col 53}{space 3}0.525{col 61}{space 4}-.2336631{col 74}{space 3} .4563471
{txt}{space 2}financialliteracy {c |}{col 21}{res}{space 2} .4938477{col 33}{space 2} .2262978{col 44}{space 1}    2.18{col 53}{space 3}0.030{col 61}{space 4}  .047293{col 74}{space 3} .9404025
{txt}{space 9}riskaverse {c |}{col 21}{res}{space 2} .0923982{col 33}{space 2} .0629173{col 44}{space 1}    1.47{col 53}{space 3}0.144{col 61}{space 4}-.0317568{col 74}{space 3} .2165532
{txt}{space 13}female {c |}{col 21}{res}{space 2}-.3950958{col 33}{space 2} .3896156{col 44}{space 1}   -1.01{col 53}{space 3}0.312{col 61}{space 4}-1.163926{col 74}{space 3} .3737347
{txt}subsessionsequence2 {c |}{col 21}{res}{space 2} .5794412{col 33}{space 2} .2005377{col 44}{space 1}    2.89{col 53}{space 3}0.004{col 61}{space 4} .1837192{col 74}{space 3} .9751632
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} 9.810243{col 33}{space 2} .6945126{col 44}{space 1}   14.13{col 53}{space 3}0.000{col 61}{space 4} 8.439757{col 74}{space 3} 11.18073
{txt}{hline 20}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t3 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  1.22171{col 26}{space 2} .4269748{col 37}{space 1}    2.86{col 46}{space 3}0.005{col 54}{space 4}  .379158{col 67}{space 3} 2.064261
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff32) =  {res}1.2217096

{txt}added scalar:
               e(sd32) =  {res}.42697475

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.606186{col 26}{space 2} .7310506{col 37}{space 1}   -2.20{col 46}{space 3}0.029{col 54}{space 4}-3.048772{col 67}{space 3}-.1636002
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff42) =  {res}-1.6061862

{txt}added scalar:
               e(sd42) =  {res}.73105057

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-1.837157{col 26}{space 2} .6539382{col 37}{space 1}   -2.81{col 46}{space 3}0.006{col 54}{space 4}-3.127577{col 67}{space 3}-.5467374
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff52) =  {res}-1.8371573

{txt}added scalar:
               e(sd52) =  {res}.65393824

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t2 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}  .940105{col 26}{space 2} .5223304{col 37}{space 1}    1.80{col 46}{space 3}0.074{col 54}{space 4}-.0906125{col 67}{space 3} 1.970823
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff62) =  {res}.940105

{txt}added scalar:
               e(sd62) =  {res}.52233045

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t4 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-2.827896{col 26}{space 2} .6730708{col 37}{space 1}   -4.20{col 46}{space 3}0.000{col 54}{space 4} -4.15607{col 67}{space 3}-1.499722
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff43) =  {res}-2.8278958

{txt}added scalar:
               e(sd43) =  {res}.67307081

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-3.058867{col 26}{space 2} .5984084{col 37}{space 1}   -5.11{col 46}{space 3}0.000{col 54}{space 4} -4.23971{col 67}{space 3}-1.878024
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff53) =  {res}-3.0588669

{txt}added scalar:
               e(sd53) =  {res}.59840845

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t3 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2816046{col 26}{space 2} .4232915{col 37}{space 1}   -0.67{col 46}{space 3}0.507{col 54}{space 4}-1.116888{col 67}{space 3} .5536788
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff63) =  {res}-.28160457

{txt}added scalar:
               e(sd63) =  {res}.42329149

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t5 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2}-.2309711{col 26}{space 2} .8096122{col 37}{space 1}   -0.29{col 46}{space 3}0.776{col 54}{space 4}-1.828583{col 67}{space 3} 1.366641
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff54) =  {res}-.23097108

{txt}added scalar:
               e(sd54) =  {res}.80961223

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t4 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2.546291{col 26}{space 2} .6989077{col 37}{space 1}    3.64{col 46}{space 3}0.000{col 54}{space 4} 1.167133{col 67}{space 3}  3.92545
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff64) =  {res}2.5462913

{txt}added scalar:
               e(sd64) =  {res}.69890771

{p 0 7}{space 1}{text:( 1)}{space 1}{space 1}{res}- t5 + t6 = 0{p_end}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}    payoff25{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}(1) {c |}{col 14}{res}{space 2} 2.777262{col 26}{space 2} .6159874{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} 1.561731{col 67}{space 3} 3.992794
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

added scalar:
             e(diff65) =  {res}2.7772623

{txt}added scalar:
               e(sd65) =  {res}.61598742

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff25 {c |}{res}          1    16.95749           .   16.95749   16.95749

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff25 {c |}{res}          1    16.13456           .   16.13456   16.13456

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}payoff25 {c |}{res}          1     16.6554           .    16.6554    16.6554

{txt}added scalar:
             e(mean21) =  {res}-.82292366

{txt}added scalar:
             e(mean31) =  {res}-.30208588

{txt}added scalar:
             e(mean32) =  {res}.52083778
{txt}
{com}. 
. 
. esttab payoff* using "output/result_mturk.csv", /*
> */  keep(_cons $treatmentlist $control) append cells(b(star fmt(%9.2f)) se(par fmt(%9.2f))) star( * 0.10 ** 0.05 *** 0.010)  /*
> */ stats(r2_a N diff32 sd32 diff42 sd42 diff52 sd52 diff62 sd62 diff43 sd43 diff53 sd53 diff63 sd63 diff54 sd54 diff64 sd64 diff65 sd65  mean21 mean31 mean32, fmt(%9.2f %9.0g %9.2f %9.2f %9.0g %9.2f) labels( R-squared N T3-T2 sd T4-T2 sd T5-T2 sd T6-T2 sd T4-T3 sd T5-T3 sd T6-T3 sd T5-T4 sd T6-T4 sd T6-T5 sd T2-T1 T3-T1 T3-T2))  collabels(none) title(" payoff")
{res}{txt}(output written to {browse  `"output/result_mturk.csv"'})

{com}. 
. est clear
{txt}
{com}. 
. 
. 
. 
. 
. gen revised_networth=playerbalance_RA+revised_playerbalance_TDA+playerbalance_CA
{txt}
{com}. replace revised_networth=networth if sessiontype~=1 & sessiontype~=4 & sessiontype~=11
{txt}(0 real changes made)

{com}. 
. *decomposing the difference in retirement wealth across treatments
. 
. gen level=.
{txt}(10,745 missing values generated)

{com}. gen se=.
{txt}(10,745 missing values generated)

{com}. 
. gen level_model=0
{txt}
{com}. 
. reg networth t1 if subsessionround_in_sequence==15 & (sessiontype==1 | sessiontype==2), vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       124
                                                {txt}F(1, 61)          =  {res}   102.79
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.5643
                                                {txt}Root MSE          =    {res} 222.28

{txt}{ralign 78:(Std. Err. adjusted for {res:62} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    networth{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}t1 {c |}{col 14}{res}{space 2} 502.0575{col 26}{space 2} 49.52046{col 37}{space 1}   10.14{col 46}{space 3}0.000{col 54}{space 4} 403.0352{col 67}{space 3} 601.0797
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 137.4467{col 26}{space 2} 31.58487{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4} 74.28888{col 67}{space 3} 200.6046
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. replace level=_b[t1] in 1
{txt}(1 real change made)

{com}. replace se=_se[t1] in 1
{txt}(1 real change made)

{com}. reg networth t1 if subsessionround_in_sequence==15 & (sessiontype==1 | sessiontype==4), vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       124
                                                {txt}F(1, 61)          =  {res}     0.00
                                                {txt}Prob > F          = {res}    0.9558
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} 233.81

{txt}{ralign 78:(Std. Err. adjusted for {res:62} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    networth{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}t1 {c |}{col 14}{res}{space 2} -2.94603{col 26}{space 2} 52.97195{col 37}{space 1}   -0.06{col 46}{space 3}0.956{col 54}{space 4}  -108.87{col 67}{space 3} 102.9779
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 642.4502{col 26}{space 2} 36.76079{col 37}{space 1}   17.48{col 46}{space 3}0.000{col 54}{space 4} 568.9425{col 67}{space 3}  715.958
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. replace level=_b[t1] in 2
{txt}(1 real change made)

{com}. replace se=_se[t1] in 2
{txt}(1 real change made)

{com}. reg revised_networth t4 if subsessionround_in_sequence==15 & (sessiontype==4 | sessiontype==5), vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       120
                                                {txt}F(1, 59)          =  {res}     0.16
                                                {txt}Prob > F          = {res}    0.6911
                                                {txt}R-squared         = {res}    0.0021
                                                {txt}Root MSE          =    {res} 178.28

{txt}{ralign 78:(Std. Err. adjusted for {res:60} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}revised_ne~h{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}t4 {c |}{col 14}{res}{space 2}-16.28594{col 26}{space 2} 40.78611{col 37}{space 1}   -0.40{col 46}{space 3}0.691{col 54}{space 4}-97.89877{col 67}{space 3} 65.32689
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 505.6204{col 26}{space 2} 29.02072{col 37}{space 1}   17.42{col 46}{space 3}0.000{col 54}{space 4} 447.5501{col 67}{space 3} 563.6907
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. replace level=_b[t4] in 4
{txt}(1 real change made)

{com}. replace se=_se[t4] in 4
{txt}(1 real change made)

{com}. reg networth t5 if subsessionround_in_sequence==15 & (sessiontype==5 | sessiontype==6), vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       120
                                                {txt}F(1, 59)          =  {res}    69.82
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.5076
                                                {txt}Root MSE          =    {res} 177.49

{txt}{ralign 78:(Std. Err. adjusted for {res:60} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    networth{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}t5 {c |}{col 14}{res}{space 2} 357.4287{col 26}{space 2} 42.77578{col 37}{space 1}    8.36{col 46}{space 3}0.000{col 54}{space 4} 271.8345{col 67}{space 3} 443.0228
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 148.1917{col 26}{space 2} 31.42556{col 37}{space 1}    4.72{col 46}{space 3}0.000{col 54}{space 4} 85.30932{col 67}{space 3} 211.0741
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. replace level=_b[t5] in 5
{txt}(1 real change made)

{com}. replace se=_se[t5] in 5
{txt}(1 real change made)

{com}. reg networth t6 if subsessionround_in_sequence==15 & (sessiontype==6 | sessiontype==2) ,vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       120
                                                {txt}F(1, 59)          =  {res}     0.06
                                                {txt}Prob > F          = {res}    0.8103
                                                {txt}R-squared         = {res}    0.0008
                                                {txt}Root MSE          =    {res} 193.66

{txt}{ralign 78:(Std. Err. adjusted for {res:60} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    networth{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}t6 {c |}{col 14}{res}{space 2} 10.74499{col 26}{space 2} 44.56445{col 37}{space 1}    0.24{col 46}{space 3}0.810{col 54}{space 4}-78.42827{col 67}{space 3} 99.91825
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 137.4467{col 26}{space 2} 31.59785{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4} 74.21957{col 67}{space 3} 200.6739
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. replace level=_b[t6] in 6
{txt}(1 real change made)

{com}. replace se=_se[t6] in 6
{txt}(1 real change made)

{com}. preserve
{txt}
{com}. keep if subsessionround_in_sequence==15 & sessiontype==4 
{txt}(10,685 observations deleted)

{com}. keep networth revised_networth id_sequence id
{txt}
{com}. rename networth networth1
{res}{txt}
{com}. rename revised_networth networth2
{res}{txt}
{com}. reshape long networth, i(id id_sequence) j(original)
{txt}(note: j = 1 2)

Data{col 36}wide{col 43}->{col 48}long
{hline 77}
Number of obs.                 {res}      60   {txt}->{res}     120
{txt}Number of variables            {res}       4   {txt}->{res}       4
{txt}j variable (2 values)                     ->   {res}original
{txt}xij variables:
                    {res}networth1 networth2   {txt}->   {res}networth
{txt}{hline 77}

{com}. replace original=0 if original==2
{txt}(60 real changes made)

{com}. reg networth original , vce(cluster id)

{txt}Linear regression                               Number of obs     = {res}       120
                                                {txt}F(1, 29)          =  {res}   113.73
                                                {txt}Prob > F          = {res}    0.0000
                                                {txt}R-squared         = {res}    0.1212
                                                {txt}Root MSE          =    {res} 207.89

{txt}{ralign 78:(Std. Err. adjusted for {res:30} clusters in id)}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}    networth{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}original {c |}{col 14}{res}{space 2} 153.1158{col 26}{space 2} 14.35774{col 37}{space 1}   10.66{col 46}{space 3}0.000{col 54}{space 4} 123.7509{col 67}{space 3} 182.4807
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 489.3344{col 26}{space 2} 28.90442{col 37}{space 1}   16.93{col 46}{space 3}0.000{col 54}{space 4} 430.2183{col 67}{space 3} 548.4506
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. local temp1=_b[original]
{txt}
{com}. local temp2=_se[original]
{txt}
{com}. restore
{txt}
{com}. replace level=`temp1' in 3
{txt}(1 real change made)

{com}. replace se=`temp2' in 3
{txt}(1 real change made)

{com}. 
. sum networth  if subsessionround_in_sequence==15 & sessiontype==11

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}networth {c |}{res}          1    416.3629           .   416.3629   416.3629
{txt}
{com}. local t1mean=r(mean)
{txt}
{com}. sum revised_networth  if subsessionround_in_sequence==15 & sessiontype==11

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
revised_ne~h {c |}{res}          1    291.6665           .   291.6665   291.6665
{txt}
{com}. local revised_t1mean=r(mean)
{txt}
{com}. sum networth  if subsessionround_in_sequence==15 & sessiontype==12

{txt}    Variable {c |}        Obs        Mean    Std. Dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 4}networth {c |}{res}          1    316.8916           .   316.8916   316.8916
{txt}
{com}. local t2mean=r(mean)
{txt}
{com}. 
. replace level_model=0
{txt}(0 real changes made)

{com}. replace level_model=`t1mean'-`t2mean' in 1
{txt}(1 real change made)

{com}. replace level_model=`t1mean'-`revised_t1mean' in 3
{txt}(1 real change made)

{com}. replace level_model=`revised_t1mean'-`t2mean' in 4
{txt}(1 real change made)

{com}. 
. br level se level_model
{txt}
{com}. 
.  
. 
. *graphs
. 
. 
. 
. 
. *=============================
. *App Figure C2 
. *=============================
. preserve
{txt}
{com}. global varlist=" playertotal_payoff playerconsumption playerbalance_RA playerbalance_TDA playerbalance_CA playercontribution  revised_playerbalance_TDA "
{txt}
{com}. collapse $varlist , by(sessiontype subsessionround_in_sequence)
{txt}
{com}. drop if subsessionround_in_sequence==55 /*record the final questionnaire*/
{txt}(0 observations deleted)

{com}. replace playerbalance_TDA=0 if playerbalance_TDA==.
{txt}(0 real changes made)

{com}. replace playerbalance_CA=0 if playerbalance_CA==.
{txt}(0 real changes made)

{com}. replace revised_playerbalance_TDA=0 if revised_playerbalance_TDA==.
{txt}(0 real changes made)

{com}. 
. gen networth=playerbalance_RA+playerbalance_TDA+playerbalance_CA
{txt}
{com}. gen revised_networth=playerbalance_RA+revised_playerbalance_TDA+playerbalance_CA
{txt}
{com}. replace revised_networth=networth if sessiontype~=1 & sessiontype~=4 & sessiontype~=11
{txt}(0 real changes made)

{com}. global varlist="playerconsumption networth "
{txt}
{com}. label var playertotal_payoff "Cumulative earnings"
{txt}
{com}. label var playerconsumption "Consumption (000)"
{txt}
{com}. label var  networth "Total networth (000)"
{txt}
{com}. label var playerbalance_RA "RA balance"
{txt}
{com}. label var playerbalance_TDA "TDA balance (000)"
{txt}
{com}. label var subsessionround_in_sequence "Period"
{txt}
{com}. label var  revised_networth "Revised total networth (000)"
{txt}
{com}. keep if subsessionround_in_sequence<=25 /*record the final questionnaire*/
{txt}(90 observations deleted)

{com}. 
. 
. 
. foreach stub of global varlist{c -(}
{txt}  2{com}. twoway (line `stub' subsessionround_in_sequence if sessiontype==1 ,lcolor(blue) lwidth(2) ) /*
> */(line `stub' subsessionround_in_sequence if sessiontype==2,  lcolor(red) lwidth(1) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==3,  lcolor(green) lwidth(0.2) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==4 , lp(dash_dot) lcolor(blue) lwidth(2) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==5 , lp(dash_dot) lcolor(red) lwidth(1) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==6 , lp(shortdash) lcolor(red) lwidth(1) ) /*
> */(line `stub' subsessionround_in_sequence if sessiontype==11 , lp(dot) lcolor(blue) lwidth(2)) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==12, lp(dot) lcolor(red) lwidth(1)) /*
> */  (line `stub' subsessionround_in_sequence if sessiontype==13, lp(dot) lcolor(green) lwidth(0.2)) /*
> */, xline(16) legend(order(1 "T1" 2 "T2" 3 "T3" 4 "T4"  5 "T5" 6 "T6" 7 "T1/T4 model" 8 "T2/T5/T6 model" 9 "T3 model") rows(3) size(*0.8) symxsize(*0.8))   name(`stub', replace)
{txt}  3{com}. graph save graph/`stub'_mturk, replace
{txt}  4{com}. graph export graph/`stub'_mturk.pdf, replace
{txt}  5{com}. {c )-}
{res}{txt}(file graph/playerconsumption_mturk.gph saved)
(file graph/playerconsumption_mturk.pdf written in PDF format)
{res}{txt}(file graph/networth_mturk.gph saved)
(file graph/networth_mturk.pdf written in PDF format)

{com}. 
. grc1leg playerconsumption networth
{res}{txt}
{com}. graph export graph/meancomparison_mturk.pdf, replace
{txt}(file graph/meancomparison_mturk.pdf written in PDF format)

{com}. 
. 
. restore
{txt}
{com}. 
. *=============================
. *App Figure C3 (b)
. *=============================
. *median graph
. preserve
{txt}
{com}. global varlist=" playertotal_payoff playerconsumption playerbalance_RA playerbalance_TDA playerbalance_CA playercontribution revised_playerbalance_TDA "
{txt}
{com}. collapse (median) $varlist , by(sessiontype subsessionround_in_sequence)
{txt}
{com}. **# Bookmark #1
. drop if subsessionround_in_sequence==55 /*record the final questionnaire*/
{txt}(0 observations deleted)

{com}. replace playerbalance_TDA=0 if playerbalance_TDA==.
{txt}(0 real changes made)

{com}. replace playerbalance_CA=0 if playerbalance_CA==.
{txt}(0 real changes made)

{com}. replace revised_playerbalance_TDA=0 if revised_playerbalance_TDA==.
{txt}(0 real changes made)

{com}. 
. gen networth=playerbalance_RA+playerbalance_TDA+playerbalance_CA
{txt}
{com}. gen revised_networth=playerbalance_RA+revised_playerbalance_TDA+playerbalance_CA
{txt}
{com}. replace revised_networth=networth if sessiontype~=1 & sessiontype~=4 & sessiontype~=11
{txt}(0 real changes made)

{com}. global varlist="playerconsumption networth "
{txt}
{com}. label var playertotal_payoff "Cumulative earnings"
{txt}
{com}. label var playerconsumption "Consumption (000)"
{txt}
{com}. label var  networth "Total networth (000)"
{txt}
{com}. label var playerbalance_RA "RA balance"
{txt}
{com}. label var playerbalance_TDA "TDA balance (000)"
{txt}
{com}. label var subsessionround_in_sequence "Period"
{txt}
{com}. label var  revised_networth "Revised total networth (000)"
{txt}
{com}. keep if subsessionround_in_sequence<=25 /*record the final questionnaire*/
{txt}(90 observations deleted)

{com}. 
. 
. 
. foreach stub of global varlist{c -(}
{txt}  2{com}. twoway (line `stub' subsessionround_in_sequence if sessiontype==1 ,lcolor(blue) lwidth(2) ) /*
> */(line `stub' subsessionround_in_sequence if sessiontype==2,  lcolor(red) lwidth(1) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==3,  lcolor(green) lwidth(0.2) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==4 , lp(dash_dot) lcolor(blue) lwidth(2) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==5 , lp(dash_dot) lcolor(red) lwidth(1) ) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==6 , lp(shortdash) lcolor(red) lwidth(1) ) /*
> */(line `stub' subsessionround_in_sequence if sessiontype==11 , lp(dot) lcolor(blue) lwidth(2)) /*
> */ (line `stub' subsessionround_in_sequence if sessiontype==12, lp(dot) lcolor(red) lwidth(1)) /*
> */  (line `stub' subsessionround_in_sequence if sessiontype==13, lp(dot) lcolor(green) lwidth(0.2)) /*
> */, xline(16) legend(order(1 "T1" 2 "T2" 3 "T3" 4 "T4"  5 "T5" 6 "T6" 7 "T1/T4 model" 8 "T2/T5/T6 model" 9 "T3 model") rows(3) size(*0.8) symxsize(*0.8))   name(`stub', replace)
{txt}  3{com}. graph save graph/`stub'_median_mturk, replace
{txt}  4{com}. graph export graph/`stub'_median_mturk.pdf, replace
{txt}  5{com}. {c )-}
{res}{txt}(file graph/playerconsumption_median_mturk.gph saved)
(file graph/playerconsumption_median_mturk.pdf written in PDF format)
{res}{txt}(file graph/networth_median_mturk.gph saved)
(file graph/networth_median_mturk.pdf written in PDF format)

{com}. 
. grc1leg playerconsumption networth
{res}{txt}
{com}. graph export graph/mediancomparison_mturk.pdf, replace
{txt}(file graph/mediancomparison_mturk.pdf written in PDF format)

{com}. 
. restore
{txt}
{com}. 
. 
. 
. 
{txt}end of do-file

{com}. exit, clear
